So, you're waiting for the CFPB to decide about overdrafts?
And why is that?
- Is it because you are completely confident you are operating an up-to-date and properly managed overdraft program?
- Or perhaps you are positive your program is compliant?
- Or maybe you have no doubt that your current program is properly serving your accountholders (whose accounts generate a large percentage of your non-interest income)?
If you cannot answer a resounding 'YES' to each of these questions, NOW is the time to ensure your overdraft program is optimized to handle to whatever the CFPB hands down. The fact is, there have been significant changes in overdraft management since most financial institutions implemented or even last reviewed their overdraft programs. Today's solutions—and providers—far exceed yesterday's options.