Comments Due to NAFCU: NCUA - Overdraft Policy
NAFCU would like to highlight the following:
- The proposal would remove the requirement that an FCU’s overdraft policy include a requirement that the member either obtain a loan or deposit money within 45 days following the overdraft and allow credit unions to establish their “reasonable” period.
- The proposal would also insert a cross-reference to the overdraft provisions of Regulation E for transactions covered by that rule.
Comments due to NAFCU: February 8, 2021.
Comments due to NCUA: 30 days after publication in the Federal Register.
NAFCU will send comments on behalf of its members to the NCUA by their deadline (February 8, 2021).