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At next Thursday’s meeting the NCUA Board plans to vote on a final rule mandating the information about overdraft protection programs.

The interim rule, which has been in effect since last summer, requires credit unions to disclose in their periodic statements the total amount of the fees for overdraft protection that they are charging a member. They must use the phrase “total overdraft fees.” In addition for members who have sweep accounts, the credit union must show a single balance, combining funds in the share draft subaccount and shared savings subaccount.

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