Begin Now to Grow Revenue and Prepare for New Overdraft Rules Due in July

More advisors like Cox Smith Attorneys are advising that the CFPB is expected to propose new overdraft rules in July of 2015.  We have been advising of likely changes in our full Whitepaper analysis of the CFPB's prepaid overdraft rules and their implication for FI overdraft fees.   We have also published our article on the expected changes and their impact on overdraft fees.

Overdraft rules and revenues may change, but consumer and small business needs for liquidity and small loans will not. While financial institutions may wring their hands with these new rules, digital consumer and business lenders are growing and escalating their attack stealing overdraft and other small loan revenues.  The result is a double bind on one of your most critical revenue sources.

But there is good news.  Savvy banks can implement services like PaySound^® for consumers and small businesses that grow revenue today without cannibalizing any existing overdraft fees, prepare for the new overdraft requirements, and beat non-bank digital lenders.  The solutions are available for those banks that take action today!