With Interest: Tool Shop
New Overdraft-Rule Compliance
Impact Financial Services
Impact Financial Services, an ICBA Preferred Service Provider of overdraft solutions, has released a new program to help community banks acquire more opt-ins to overdraft programs and ensure full regulatory compliance while maintaining overdraft-fee-income levels. The Impact Optimizer is a multifaceted customer-notification program that incorporates direct mail, a Web opt-in form and on-demand reporting to meet the Regulation E compliance guidelines.
* Details: impactfinancial.com/optimizer.html.
Wolters Kluwer Financial Services
Wolters Kluwer Financial Services has introduced Reg E Opt-in Manager to help banks generate opt-in consumer notices under the Federal Reserve's Regulation E revisions for overdraft programs. Reg E Opt-in Manager uses accountholder information to create cover letters, opt-in notices and customer-consent notifications that can be mailed or e-mailed. The system also provides an audit trail of opt-ins and opt-outs that are captured, scanned, imaged and sent electronically to the institution to track compliance.
The company's online Regulation E resources also include staff-training Webinars, consumer-education materials, opt-in notices and confirmation of consent notices. …