FDIC Federal Register Citations

-----Original Message-----
From: Maria Crayton [mailto:mcrayton@sentrybt.com]
Sent: Wednesday, August 04, 2004 4:18 PM
To: Comments@FDIC.gov.
Subject: Interagency Guidance on Overdraft Protection Programs. Proposed Guidance with Request for Comment

1.  Charge Off Overdrafts at 30 days:
Sentry Bank & Trust would advocate that overdrafts be allowed up to an aging of sixty (60) days prior to charging off an overdraft but in no event less than forty-five (45) days the same as credit union regulations.

2.  Unused Commitment Reporting:
Sentry Bank & Trust would advocate loss reserves be maintained by financial institutions and that these be based on the historical performance of the overdraft protection service.

3.  Free Account Disclosures:
Sentry Bank & Trust would advocate allowing free account advertising with overdraft protection when conspicuous disclaimers are included in the communication that make clear that other restrictions may apply.

4.  Notices Upon First and Subsequent Overdrafts:
Sentry Bank & Trust would request that this suggestion be reconsidered.

5.  Repayment Plans:
Sentry Bank & Trust would request that current and performing repayment plus not be charged off.

Thank you.

Maria Crayton
Sentry Bank & Trust
901 Chesterfield Hwy
Cheraw, SC 29520
Phone 843-537-7656
Fax 843-537-4436