A declaratory order issued by Georgia's financial regulator has brought parity in overdraft fee limitations for all of the state's credit unions.
The order, issued by Commissioner Kevin B. Hagler, exempts Georgia's state-chartered credit unions from fee limits on overdrafts from deposit accounts, bringing them in line with those of federally chartered credit unions.
The order, issued July 11 and prompted by requests from the Georgia Credit Union Association, follows on the heels of a similar declaratory order issued earlier on behalf of several state banks.
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