Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Moebs granted patent for overdraft checking process
LAKE BLUFF, Ill. (1/10/10)--Moebs Services, an economic research firm, has been granted a patent for Debit Scoring, which can be used by financial institutions offering overdraft services on consumer checking accounts, according to Michael Moebs, Moebs CEO and economist. Debit Scoring is part of Moebs’ No-Bounce Checking, which allows financial institutions to assess consumer risk and establish a range of customized overdraft limits, while controlling losses, protecting revenue and increasing checking account volume. Clients who use this process can charge as little as $9 to $12 for an overdraft, Moebs said. Debit Scoring was tested in Miami and financial institutions using the service experienced only 4% in losses. Financial institutions using the traditional approach to overdraft coverage lose 20% to 30% of revenue. “I believe this process solves many of the issues financial institutions and consumers now face in the current pricing controversy impacting overdrafts,” Moebs added.


RSS print
News Now LiveWire
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
16 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
17 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
17 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
19 hours ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
20 hours ago