; or (B) a fee or charge imposed in connection with any transfer from an account linked to another transaction account. (11) Overdraft coverage program The term overdraft coverage program means a service under which a depository institution assesses an overdraft coverage fee for overdraft coverage. (12) Transaction account The term transaction account has the meaning given the term in section 19(b)(1)(C) of the Federal Reserve Act ( 12 U.S.C. 461(b)(1)(C) ). 4. Checking account penalty fees (a) Prohibition (1) In general During a covered period, no depository institution may assess a checking account penalty fee for any transaction, including a transaction at an automated teller machine, a 1-time debit card transaction, a transaction that involves the use of a check, or an automatic recurring payment. (2) Correction If a depository institution assesses a checking account penalty fee during a covered period in violation of paragraph (1), the depository institution shall be considered to be in compliance with that paragraph if the depository institution promptly reverses that assessment. (b) Reports to consumer reporting agencies During a covered period, no depository institution may report negative information regarding the use of overdraft coverage by a consumer to any consumer reporting agency. (c) Rule of construction Nothing in this section may be construed as prohibiting a depository institution, during a covered period, from retaining the discretion to pay, without assessing a checking account penalty fee, an overdraft incurred by a consumer.