Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Product and Services brief (08/13/2010)
* RALEIGH, N.C. (8/16/10)--Coastal FCU, Raleigh, N.C., yesterday introduced a program to combat “$30 cups of coffee” by charging just one cent for insufficient funds. Sunday was the effective date for new overdraft rules under the Dodd-Frank Act, which give consumers the ability to opt-in for fee-based insufficient fund protection from their financial institutions. Instead of charging $28 each time a member overdraws an account, Coastal will charge just one cent per transaction with insufficient funds, provided the member: corrects the difference before 11 p.m. the same day; or had a small transaction that did not take their end-of-day account balance into the negative by more than $10. Any account that remains negative by more than $10 after 11 p.m. will be charged the $28 overdraft fee. The changes apply to all checks and automated drafts, and debit and ATM transactions on accounts that have opted-in to Coastal’s BounceGuard Plus overdraft coverage service. Coastal has $2 billion in assets...


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
1 Day ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
1 Day ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
1 Day ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
1 Day ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
1 Day ago