WASHINGTON — A bill pending in Congress and proposed regulations could mean less noninterest income for credit unions.

The bill (H.R. 5224) passed by the U.S. House, as well as rules being considered by the Federal Reserve, the NCUA and the FDIC, would allow credit union members to opt out of having some or all overdrafts paid at the point of sale. Credit unions would also be banned from charging overdraft fees if the overdraft is the result of a hold on funds.

Also, the overdraft fees on debit cards could instead be disclosed as a finance charge, and thus subject to the antiusury laws; credit unions can only charge up to 18% interest. In other words, if a credit union charges $25 for an overdraft and someone overdraws the account by $100, the CU could not charge the full amount because it would exceed the 18% cap.