What information must be included in the opt-in notice?

The opt-in notice for overdraft protection must provide clear and comprehensive information, which includes both the fees associated with overdraft protection and the consequences of overdrawing the account. This transparency is essential in order to allow consumers to make informed decisions about whether to opt into overdraft protection services. Including fees helps consumers understand the financial implications of choosing this service, while explaining the consequences ensures that they are aware of the potential for additional charges and impacts on their account balance should they exceed their available funds. This combination of information supports consumers in evaluating their options and understanding their responsibilities associated with overdraft protection programs.