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What is this amendment to Reg E all about?

Amendment Reg
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What is this amendment to Reg E all about?

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The Federal Reserve Board recently amended Regulation E – the Electronic Funds Transfer Act. This amendment prohibits the bank from assessing an overdraft fee for paying ATM and one-time debit card transactions that overdraw your account unless you affirmatively consent, or opt in, to our overdraft services. Additionally, we are required to provide you a notice of confirmation when you make an initial election and for any subsequent changes to that election.

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