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Wolters Kluwer Reg E Opt-In Manager
Wolters Kluwer Financial Services’ Reg E Opt-in Manager allows banks to rapidly comply with the revisions to Regulation E effective July 1 for new accounts and Aug. 15 for existing ones. In addition to enabling more rapid compliance with Regulation E, the solution allows banks to make the process of opting in more convenient for their customers. By making the process more efficient, it can assist banks in improving opt-in success and retaining fee income. Reg E Opt-in Manager allows banks to completely outsource the entire process of gaining approval from consumers before charging overdraft fees on one-time debit card or ATM transactions. Built on trusted technology and a secure delivery platform, the solution helps banks:
- Create cover letters, opt-in notices, and confirmation of consent notifications.
- Automatically and electronically deliver, or mail if necessary, messages to consumers, who can opt-in or out.
- Provide a full audit trail of opt-ins and opt-outs that are captured, scanned, imaged, and sent electronically to the bank to track compliance with Reg E.
- Generate a report of all opt-ins and outs.
Allowing banks to expedite the generation and delivery of opt-in notices to consumers for consent, Reg E Opt-in Manager can help them relieve their regulatory burden, reduce risk and conserve resources.
Wolters Kluwer Financial Services
www.wolterskluwerfs.com