Comments Due to NAFCU: NCUA - Overdraft Policy

Important Regulatory Dates Add to Calendar 2021-02-08 17:00:00 2021-02-08 17:00:00 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. Comment now   NAFCU will send comments on behalf of its members to the NCUA by their deadline (February 8, 2021). Location NAFCU digital@nafcu.org America/New_York public

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.

Comment now  

NAFCU will send comments on behalf of its members to the NCUA by their deadline (February 8, 2021).