MI SB0084

Banks cannot charge more than one overdraft fee in any 24-hour period.

Banks must publish overdraft fee amounts and the criteria used to determine those fees on a publicly available internet website.

When multiple items are charged to an account on the same banking day, banks must process them from smallest to largest amount.

"Overdraft fee" is defined as any fee or charge imposed when a check or debit is paid despite insufficient funds in the account.

"Banking day" and "item" have the meanings defined in the Uniform Commercial Code, MCL 440.4104.