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The Future of Overdrafts Survey Results

The CFPB has mandated that financial institutions with assets above $10 billion eliminate or reduce their OD/NSF fees significantly. The proposed rules would slash OD fees moving forward and enforce that any OD balance be treated like a credit card balance. Immediate NSF fees would be eliminated.

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Adapt or Fade Away

By forcing larger FIs into more consumer-friendly OD/NSF protocols, the CFPB is also helping them differentiate from smaller FIs that tend to rely on these fees proportionately more than bigger institutions.

And if the sub-$10 billion FIs are simply hoping to ride the status quo until change comes to them, it will already be too late for many. Big FIs will start taking market share, and other proactive peer competitors will also become more serious threats as competition for valuable accounts heats up for retail and SMB clients.

Find Out What Your Peers Are Doing

That’s why we decided it was time to find out what community banks and credit unions are doing or planning to do as these move from proposals to reality.

We surveyed hundreds of banks above and below the $10 billion threshold about their view of this changing landscape and challenge to this reliable revenue source.

 

Learn what these FI leaders reported regarding:

  • Pricing and Policy Changes for retail and SMB account products
  • Replacement Checking Product Revenue Plans
  • Replacement Corporate Revenue Plans

Who We Are

We’ve seen many of these “solutions” before. For more than two decades we’ve helped 400+ community FIs:

  • Build brand differentiation

  • Increase primacy and finding your best customers/member

  • Grow deposits organically without the risk and expense of acquisition efforts

  • Transition from OD/NSF fees

  • Simplify unmanageable grandfathered and “zombie” accounts

Our two products - CheckingScore and BaZing - work in tandem to deliver more value to your customers/members as well as to your bottom line particularly when community FIs are having to maintain their relevance as megabanks and regionals aggressively grow their market share.

It’s free, and it’s a great start to see where your FI is positioned relative to these FIs we surveyed.

Download Your Copy of the Overdraft Survey Results Now

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