Bankowość i finanse · 26/04/2006

Truth in Savings

As required by the Truth in Savings Act, NCUA is finalizing its rule and official staff interpretation to address the uniformity and adequacy of information provided to members when they overdraw their share accounts. The amendments address services referred to as "bounced-check protection" or "courtesy overdraft protection" that credit unions may use to pay members" checks and allow other overdrafts when there are insufficient funds in the account.