U.S. Congress - H.R.4414 Overdraft Fee Notification Act
H.R.4414 - Overdraft Fee Notification Act
To amend the Electronic Fund Transfer Act to require notice to the consumer before any fee may be imposed by a financial institution in connection with any transaction for any overdraft protection service provided with respect to such transaction, and for other purposes. view all titles (2)
All Bill Titles
- Short: Overdraft Fee Notification Act as introduced.
- Official: To amend the Electronic Fund Transfer Act to require notice to the consumer before any fee may be imposed by a financial institution in connection with any transaction for any overdraft protection service provided with respect to such transaction, and for other purposes. as introduced.
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Official Summary
11/18/2005--Introduced.Overdraft Fee Notification Act - Amends the Electronic Fund Transfer Act to prohibit a financial institution from imposing a fee or charge for overdraft protection service unless it has disclosed such charge to the consumer before the completion of the transaction thOfficial Summary
11/18/2005--Introduced.
Overdraft Fee Notification Act - Amends the Electronic Fund Transfer Act to prohibit a financial institution from imposing a fee or charge for overdraft protection service unless it has disclosed such charge to the consumer before the completion of the transaction that would result in an overdraft.
Sets forth disclosure requirements.
Requires such an institution to disclose in periodic statements to the consumer the annual percentage rate which the overdraft fee represents.
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