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NCUA RIN: 3133-AF20 Publication ID: Fall 2023 
Title: Overdraft Policy 

The NCUA Board (Board) issued a proposed rule to amend one of the requirements that a federal credit union (FCU) must adopt as a part of its written overdraft policy. Specifically, the propose d rule would modify the requirement that an FCU’s written overdraft policy establish a time limit, not to exceed 45 calendar days, for a member to either deposit funds or obtain an approved loan from the FCU to cover each overdraft. The proposed rule would remove the 45-day limit and replace it with a requirement that the written policy must establish a specific time limit that is both reasonable and applicable to all members, for a member either to deposit funds or obtain an approved loan from the credit union to cover each overdraft. Consistent with U.S. generally accepted accounting principles, overdraft balances should generally be charged off when considered uncollectible.   The comment period has closed, and the Board is contemplating next steps.

Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 701   
Legal Authority: 12 U.S.C. 1752(5)    12 U.S.C. 1755 to 1759    12 U.S.C. 1761a to 1761b    12 U.S.C. 1766 to 1767    12 U.S.C. 1782    12 U.S.C. 1784 to 1789    15 U.S.C. 3717, sec. 701.6    15 U.S.C. 1601 et seq., sec. 701.31    42 U.S.C. 1981    42 U.S.C. 3601 to 3610    42 U.S.C. 4311 to 4312, sec. 701.35   
Legal Deadline:  None
Action Date FR Cite
NPRM  01/15/2021  86 FR 3876   
NPRM Comment Period End  02/16/2021 
Final Action  06/00/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL:  
RIN Data Printed in the FR: No 
Agency Contact:
Thomas I. Zells
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2478
Fax:703 518-8566