On February 19th, the Federal Reserve Board proposed clarifications to aspects of its November 2009 final rule under Regulation E (Electronic Fund Transfers) and its December 2008 final rule under Regulation DD (Truth in Savings) pertaining to overdraft services. According to the Federal Reserve Board, the proposals address questions that have arisen and provide further guidance regarding compliance with certain aspects of the final overdraft rules. In particular, the proposals would clarify that the prohibition in Regulation E on assessing overdraft fees without the consumer's affirmative consent applies to all institutions, including those with a policy and practice of declining automated teller machine and one-time debit card transactions when an account has insufficient funds. Comments should be submitted within 30 days after publication of the proposals in the Federal Register, which is expected during the week of February 22nd. Proposed Regulation E Clarifications; Proposed Regulation DD Clarifications; Federal Reserve Board Press Release.