Guardian CU Adds Fiservs Reg E Overdraft Opt-In Software
WEST MILWAUKEE, Wis. – Guardian CU has implemented Fiserv’s Overdraft Opt-In Program in response to new requirements that a consumer opt-in so a credit union can extend or continue to provide fee-based overdraft services for ATM and one-time debit card transactions.
Based on proprietary research and feedback from consumer focus groups, Fiserv has designed Reg E Overdraft Service Opt-In Programs to assist financial institutions of all sizes. The three-tiered program varies in complexity and level of support ranging from a self-directed deployment program to a full turnkey solution.
Option One is a proactive and affordable option enabling financial institutions to rapidly meet compliance obligations and minimize revenue or consumer losses.
Option Two is a consultant-led engagement that provides tools and guidance needed to minimize the impact of Reg E changes while managing a seamless and effective opt-in program.
Option Three is a true turnkey Reg E Opt-In optimization program that includes portfolio segmentation and other data analytics, opt-in optimization recommendations, staff and consumer training and a project plan/deployment guide.