What is different now that Regulation E changes are effective?
Regulation E requires financial institutions to treat ONLY ATM and everyday debit card transactions differently. KeyBank cannot authorize these transactions into overdraft unless the customer has given KeyBank permission to do that, or in other words, opted in. If a client has not consented or opted in by August 12, KeyBank considers that the client has not consented to overdraft services for ATM and everyday debit card transactions.
