Source: https://www.law.cornell.edu/cfr/text/12/230.11
Timestamp: 2015-05-30 00:27:27
Document Index: 524479197

Matched Legal Cases: ['art 230', '§ 230', '§ 230', 'art 226', '§ 230', 'art 226']

12 CFR 230.11 - Additional disclosure requirements for overdraft services. | LII / Legal Information Institute
CFR › Title 12 › Chapter II › Subchapter A › Part 230 › Section 230.11 12 CFR 230.11 - Additional disclosure requirements for overdraft services.
§ 230.11
The total dollar amount for all fees or charges imposed on the account for paying checks or other items when there are insufficient or unavailable funds and the account becomes overdrawn, using the term “Total Overdraft Fees”; and
Format requirements. The aggregate fee disclosures required by paragraph (a) of this section must be disclosed in close proximity to fees identified under § 230.6(a)(3), using a format substantially similar to Sample Form B-10 in Appendix B to this part.
Advertising disclosures for overdraft services—(1) Disclosures. Except as provided in paragraphs (b)(2),(b)(3), and (b)(4) of this section, any advertisement promoting the payment of overdrafts shall disclose in a clear and conspicuous manner:
An advertisement promoting a service where the institution's payment of overdrafts will be agreed upon in writing and subject to the Board's Regulation Z (12 CFR part 226);
Exception for ATM screens and telephone response machines. The disclosures described in paragraphs (b)(1)(ii) and (b)(1)(iv) of this section are not required in connection with any advertisement made on an ATM screen or using a telephone response machine.
Exception for indoor signs. Paragraph (b)(1) of this section does not apply to advertisements for the payment of overdrafts on indoor signs as described by § 230.8(e)(2) of this part, provided that the sign contains a clear and conspicuous statement that fees may apply and that consumers should contact an employee for further information about applicable fees and terms. For purposes of this paragraph (b)(4), an indoor sign does not include an ATM screen.
Disclosure of account balances. If an institution discloses balance information to a consumer through an automated system, the balance may not include additional amounts that the institution may provide to cover an item when there are insufficient or unavailable funds in the consumer's account, whether under a service provided in its discretion, a service subject to the Board's Regulation Z (12 CFR part 226), or a service to transfer funds from another account of the consumer. The institution may, at its option, disclose additional account balances that include such additional amounts, if the institution prominently states that any such balance includes such additional amounts and, if applicable, that additional amounts are not available for all transactions.
[70 FR 29593, May 24, 2005, as amended at 74 FR 5593, Jan. 29, 2009; 75 FR 31676, June 4, 2010]
Title 12 published on 2015-01-01no entries appear in the Federal Register after this date.