NEWS

STANDARD INSURANCE COVERAGE AMOUNT OF $250,000 MADE PERMANENT

The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21,2010, made permanent the current standard maximum deposit insurance amount of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership catagory.

WHAT YOU NEED TO KNOW ABOUT OVERDRAFT FEES

Effective August 15, 2010 Banks can no longer charge fees to existing customers for One Time ATM and Point of Sale (POS) card transactions that create an overdraft unless customers have had the opportunity to agree to the fees or OPT IN. Prince George's Federal has updated our Courtesy Pay Program to OPT OUT ALL our customers. We will NOT be charging any fees for One Time ATM and Point of Sale (POS) card transactions that create an overdraft. The items will be paid and fees waived.

 Electronic Fund Transfers

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; official staff commentary

SUMMARY: The Board is amending Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. The final rule limits the ability of a financial institution to assess an overdraft fee for paying automated teller machine (ATM) and one-time debit card transactions that overdraw a consumer’s account, unless the consumer affirmatively consents, or opts in, to the institution’s payment of overdrafts for these transactions

TO REPORT LOST OR STOLEN DEBITS CARDS DURING BUSINESS HOURS PLEASE CALL YOUR LOCAL BRANCH.

FOR WEEKENDS AND AFTER HOURS  PLEASE CALL: 1 800-554-8969