Design and Testing of Overdraft Disclosures: Phase Two

摘要

In January 2009 the Board published a revised proposal under Regulation E, which implements the Electronic Fund Transfer Act. This proposal included both a revised model notice regarding the consumers right to opt out of overdraft coverage for ATM and everyday debit card transactions, and an alternative model notice regarding the consumers right to opt into that coverage. After receiving public comment on these amendments, the Board again contracted with ICF Macro to provide support in the testing and revision of these model notices. Between May and September 2009, ICF Macro conducted four additional rounds of cognitive interviews with consumers to test the effectiveness of revised overdraft notices. This report describes findings from this most recent phase of ICF Macros work related to design and testing of overdraft notices for the Board.