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Can multiple excess-activity fees can be combined into a single fee so long as they are not combined with a monthly maintenance fee on a check account statement?

I am having a difference of opinion with my operations department regarding how fees must be disclosed on checking account statements under Regulation DD (Truth in Savings Act). Section 1030.6(a)(3) requires that fees be itemized by type and dollar amounts and that when fees of the same type are imposed more than once in a period, the bank may itemize each fees separately or group the fees together and disclose a total dollar amount for all fees of that type. Comment 2 to that section states, "In itemizing fees imposed more than once in the period, institutions may group fees if they are the same type." Examples of fees that may not be grouped together are "monthly maintenance and excess activity fees." The operations department is interpreting this to mean that the bank may not group excess-activity fees together and that each excess-activity fee must be disclosed as a separate item. I believe that the excess-activity fees may be grouped together and that the comment is saying that the bank may not "group together" i.e., combine, monthly maintenance fees and excess-activity fees. Thus, multiple excess-activity fees can be combined into a single fee so long as they are not combined with a monthly maintenance fee. Am I correct?

Yes, you are correct. The regulation is saying that the bank cannot add up all the maintenance fees and all the excess activity fees and combine them into a single amount. However, it may add up all the excess-activity fees for a total— that is kind of the point—so that consumers understand the total amount they pay in a period for excess-activity fees, overdraft fees, maintenance fees, etc. (December 2019)

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