There are new requirements from the Federal Reserve regarding Overdraft Protection on ATM withdrawals and Debit Card purchases. As of July 1st, 2010, you will need to have a signed opt-in/out form from your customers to continue their overdraft protection on those types of transactions. For more information, please visit this website.

IFS can help you put together a mailing to notify your customers of this important change. Other solutions are available as well. Go to the link below and scroll to “Federal Register notice, Regulation E” to view model forms and samples:

Please contact your account representative at 815-725-0633, or, to ensure you are in compliance with this new requirement.