What do federally chartered credit unions need to enter for the transaction description for the “Non-Return fee” (on the NSF and Overdraft Protection detail screen) in order to remain in compliance with the NCUA?

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What do federally chartered credit unions need to enter for the transaction description for the “Non-Return fee” (on the NSF and Overdraft Protection detail screen) in order to remain in compliance with the NCUA?

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If you are a federally chartered credit union, enter the words “Overdraft fee” in this field to remain in compliance. This is because that description is what is used on the fee summary disclosure on the statement, and federally-chartered credit unions must use this specific terminology.

• NOTE: If you are adjusting your description, you may also want to include a statement message to alert members to the change.

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What do federally chartered credit unions need to enter for the transaction description for the “Non-Return fee” (on the NSF and Overdraft Protection detail screen) in order to remain in compliance with the NCUA?

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What do federally chartered credit unions need to enter for the transaction description for the “Non-Return fee” (on the NSF and Overdraft Protection detail screen) in order to remain in compliance with the NCUA?

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