What is the compliance requirements deadline for overdraft protection?

The compliance requirement deadline for overdraft protection was established by the rules set forth by the Federal Reserve as a part of Regulation E, which implements the Electronic Fund Transfer Act. The specific date when these new compliance standards took effect was July 1, 2010. This regulation aimed to ensure that consumers were provided clear disclosures and required institutions to obtain explicit consent from consumers before charging them fees for overdrafts on ATM and one-time debit card transactions. Therefore, July 1, 2010, is the correct date that marks the implementation of these requirements related to overdraft protection. Understanding this date is crucial for compliance with consumer protection laws related to financial transactions.