Vendors Pushing Out Reg E Help
Fiserv Inc. and Xtend Inc. have joined the list of vendors offering credit unions help in meeting the federal Regulation E opt-in deadline of July 1.
That's the date that credit unions and banks have to begin requiring their members and customers to opt-in to free-based overdraft services for ATM and one-time debit card transactions.
Fiserv, which provides core processing to about 2,500 credit unions, said its Opt-In Optimization Program includes consumer segmentation, multi-channel and contact outreach, help in obtaining consent and mailing confirmations, staff training and consumer education.
Xtend, which provides operational and consulting solutions to more than 120 credit unions, is offering mailings, electronic member communication, inbound and outbound call support, and back office fulfillment.
More than two dozen credit unions have already signed up for at least one of Xtend's opt-in services, said Scott Collins, president of the Grand Rapids, Mich.-based CUSO.