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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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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
11/18/05
 
 
 
 
 
 
 

Official Summary

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 ov

Official Summary

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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