Comptroller of the Currency
Administrator of National Banks

The revised procedures include the changes made to the regulation addressing concerns about the uniformity and adequacy of information provided to consumers when they overdraw their deposit accounts.

These procedures specifically

• Prohibit misleading advertisements, including institutions’ communications with current customers about their existing accounts;
• Require additional disclosures about fees and other terms for overdraft services, including in advertisements; and
• Require institutions that promote in an advertisement the payment of overdrafts to disclose on periodic statements the total dollar amount imposed for overdraft fees and the total dollar amount imposed for returned-item fees, both for the statement period and for the calendar year to date.

The procedures also simplify references to e-communication and eliminate more detailed references to e-communication that were contained in the interim, optional regulatory rules.

On April 6, 2005, the Office of the Comptroller of the Currency, published OCC Bulletin 2005-9 entitled, “Overdraft Protection Programs, Interagency Guidance.” The guidance in this bulletin identifies concerns raised by institutions, financial supervisors, and the public about the marketing, disclosure, and implementation of overdraft protection programs. National banks and their supervisory examiners are reminded that this guidance supplements the regulatory requirements contained in Regulation DD and should be considered when establishing, monitoring, and evaluating overdraft protection programs.

The Office of the Comptroller of the Currency plans to incorporate the procedures in an update to the Comptroller’s Handbook series. Until the revised handbook is issued, examiners should use the attached procedures.

Questions about the Regulation DD and the Truth in Savings Act and these examination procedures may be directed to your supervisory office or the Compliance Policy Department at (202) 874-4428.

/signed/           Ann F. Jaedicke Deputy Comptroller for Compliance Policy