Solutions to Achieve Reg E Compliance
Our services and paper documents can help you comply with new Reg E requirements. We’ll help you reach your account holders to retain revenue with Reg E Opt-in Manager and our printed solutions. Select the compliant and warranted documents, the required disclosures, and the cover letters your financial institution needs in paper or electronic format. Overcome opt-in challenges with Reg E Opt-in Manager. It automatically generates and sends initial notices and confirmation to account owners electronically or by mail based on your preferences. Your account owners receive opt-in notices faster, helping to improve your opt-in success. Reg E Opt-in Manager uses the same technology top lenders trust to send documents and disclosures securely. Your account owners’ information is kept safe with the latest data encryption and security features. And you’ll be kept safe with warranted compliance documentation and a complete audit trail. Click here to learn more about Reg E Opt-in Manager Improve your opt-in response by educating account owners about overdraft services before they receive the opt-in notice. Our customizable marketing pieces explain the function of overdraft services and provide information about the new requirements. We can also print and mail to your account owners as part of our marketing services. Overdraft Services Notice and Opt-in/Opt-out The Regulation E Model A notice provides notice to your customers of:
The opt-in form is also included with this notice. This form provides written confirmation to your customers of their affirmative consent to opt-in to overdraft services. Customers who have opted-in to overdraft services have a continuing right to revoke their consent to those services. Customers can use this form to revoke their consent. These letters inform account holders about overdraft services, the new federal laws affecting overdraft services, and what they need to do to opt-in to overdraft services. Each version contains specific messaging depending on the account holders use of overdraft services and reminds them about the benefits overdraft services provide. These educational letters can be used as cover letters with the Opt-in Notice or as stand-alone letters to prepare your customers for when you send the actual notice. Letter 1: Written specifically for account holders who have recently used overdraft services This form is created specifically for your institution to describe your overdraft protection plans to your customers. It is designed to comply with the Reg. DD (Truth-in-Savings) requirements for advertising overdraft protection plans.
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