Insight for Evolving Regulations
CFPB Enforcement of Overdraft Solution
In recent years, the CFPB has focused on perceived unfair, deceptive or abusive products, policies or advertising that now includes overdraft practices and other consumer financial products.
Overdraft fees represent a large revenue stream for Financial Institutions. In this new environment, Financial Institutions are struggling to meet the short-term needs of lower mass market customers. Customers are being pushed out of traditional Financial Institutions due to financial hardship, rules changes and stricter lending standards. There is significant flight risk of mass market consumers to alternative providers due to short-term liquidity challenges.
Our Insight Score for Retail Banking (ISRB) is a risk assessment solution that leverages powerful alternative data to help more accurately predict DDA performance. ISRB helps you boost new account acquisition, assess risk on a wider audience, reduce new account charge-offs, and improve segmentation at the point of acquisition.