Reg E Questions?
Comprehensive Advisory Services on New Regulation E Rules
Sheshunoff Consulting + Solutions can assist your financial institution in designing an approach to the new Regulation E rules with the goal of retaining revenue that could otherwise be lost. Our objective is to help you use every customer contact channel to encourage your customers to opt in to the NSF/OD service.
Preserving Revenue Is Core
Sheshunoff Consulting + Solutions believes you need a defined strategy to protect your financial institution against significant income loss. To help you accomplish this, our service includes:
- Communication approaches that target customers most affected by the new regulation
- System considerations and impacts
- Identification of process gaps
Our SCS consultants have the expertise in these areas to enable your institution to implement the new requirements and integrate them into your current and future overdraft programs.
As part of this service you receive a Reg E Customer Communication Toolkit, which includes:
- Sample letters
- Scripting
- Customer brochures
- Timelines
- Checklists
We want to ensure you have all the resources you need to start identifying and contacting relevant customers.
Reg E Opt-In Solution
SCS has developed an Opt-In Software + Consulting solution you can use in house or outsourced to facilitate contacting all your customers notifying them of the new Opt-In requirements under Regulation E. Best practice strategies are included in the product to generate Letters, Phone Calls, Online Banking Alerts, Mobile Banking Alerts, and Email files, all of which can be customized to meet your needs. The solution also includes a Contact Management product to follow-up on strategy calls generated by the system.
If you do not have the resources to conduct the entire notification process within the required Regulation E timeline, the SCS Tracker product can interface with an external Call Center, Email, Direct Mail Fulfillment Center and Website Provider with institution branded pages to collect and send Opt-In confirmations.