Above breakeven overdraft credit
(1) Above breakeven overdraft credit means overdraft credit extended by a very large financial institution to pay a transaction on which, as an incident to or a condition of the overdraft credit, the very large financial institution imposes a charge or combination of charges exceeding the average of its costs and charge-off losses for providing non-covered overdraft credit as described in paragraph (d) of this section. (2) Covered asset account means a checking or other transaction account (other than a prepaid account as defined in 1026.61) provided by a very large financial institution that is tied to overdraft credit provided by the very large financial institution. (3) Covered overdraft credit means overdraft credit that is subject to a finance charge or is payable by written agreement in more than four installments. (4) Covered overdraft credit account means a credit account through which a financial institution extends or can extend covered overdraft credit. For example, the term includes any line of credit, credit card account, credit feature, credit plan, or credit subaccount through which the financial institution extends or can extend covered overdraft credit. (5) Hybrid debit-credit card means any card, plate, or other single credit device that a consumer may use from time to time to obtain covered overdraft credit from a very large financial institution. (6) Non-covered overdraft credit means overdraft credit that is not subject to a finance charge and is not payable by written agreement in more than four installments. (7) Overdraft credit has the meaning set out in paragraph (a)(2) of this section. (8) Very large financial institution means an insured depository institution or an insured credit union that has total assets of more than $10,000,000,000 and any affiliate thereof, as determined under 12 U.S.C. 5515(a).