Consumer Banking and Payments Law: 5.8.2.3 Notice and Opt-In Procedure
Financial institutions are required to provide consumers with a notice in writing or electronically (if the consumer agrees to electronic disclosures) describing the institution’s overdraft program.1059 In assessing compliance with the notice requirements, courts may look beyond the letter of the account agreement if it is ambiguous or does not accurately describe the conditions under which an overdraft fee would be assessed.1060 No notice is required for institutions that have a policy of d