Which statement is TRUE regarding consumers opting in for overdraft protection?

The statement that consumers can opt in at any time is indeed true. Current regulations regarding overdraft protection allow consumers the flexibility to opt in whenever they choose, not just during the account opening. This means that if a consumer initially decides against overdraft protection, they retain the right to change that decision later, providing them with greater control over their banking options.

The other choices do not align with the regulatory framework surrounding overdraft protection. Consumers are not restricted to opting in only at account opening, they are not mandated to renew their opt-in status annually, and there is no limit of two years on the effectiveness of an opt-in. These aspects highlight the importance of consumer choice and the ongoing ability to manage banking services as per individual needs and preferences.