Hero or villain? It’s your choice.
When a member writes a check, or swipes a debit card, but lacks the funds for the transaction a credit union has a choice: it can play the part of the villain and slap a big fee on the member or the credit union could use the patented toolset from DoubleCheck to resolve the situation in ways that can benefit both the member and the credit union.
Face facts: you may not have long to decide what to do. The two dozen biggest credit unions – ones with assets over $10 billion – already are confronting a CFPB that seems to determined to change how they handle overdrafts.
A bigger bomb dropped when NCUA weighed in with its idea to supervise how overdrafts are handled at credit unions with assets of $1 billion or more. That impacts some 500 credit unions.
A revolution is afoot regarding overdrafts. Credit unions simply have to accept that changes are coming.
That’s where DoubleCheck comes in.
On the show today is Joel Schwartz, founder and Co CEO of DoubleCheck. He tells all you need to know about what’s happening in the world of overdrafts and how DoubleCheck can help credit unions who want to manage these changes in ways that will benefit members and the credit unions and satisfy regulators.
Schwartz has been on the show twice before – in February 2022 and earlier in February 2021. He’s a good, lively guest and he knows this overdraft world.
You need to know about it too.
