The final rule amends Regulation DD to address depository institutions’ disclosure practices related to overdrafts. The effective date for the Regulation DD amendments is January 1, 2010.

Disclosure of Aggregate Overdraft Fees

The final rule extends to all institutions the requirement to disclose on periodic statements the aggregate dollar amounts charged for overdraft fees and for returned item fees (for the statement period and the year-to-date). Currently, only institutions that promote or advertise the payment of overdrafts must disclose aggregate amounts.

Disclosure of Balance Information

The final rule requires institutions that provide account balance information through an automated system to provide a balance that does not include additional funds that may be made available to cover overdrafts.

Source: Federal Reserve