Fiserv responds to CFPB overdraft order

The Brookfield, Wis.-based core processor Fiserv has released an official statement regarding the CFPB order to provide anonymous data pertaining to overdraft programs.

Fiserv’s statement regarding its assistance to the CFPB read as follows: “We are currently assisting the CFPB at their request. They are currently researching overdraft programs and have asked us to provide information about our hosted account processing clients’ system settings pertaining to overdraft programs. We are making clients aware of the CFPB request, and the assistance that we are providing.”

Fiserv was not immediately available for comment earlier last week, but did release the following memo to its credit union clients:

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