Leading Vendor Warns Consumers: 'Be Selective' on Overdraft Programs; 'Room for Improvement Exists,' John M. Floyd Tells Consumer Federation Attendees

Business Wire, Dec 4, 2003

Floyd, whose firm expects to install more than 500 programs in 2004, said that a fair, well-conceived and managed overdraft program "is a win-win-win for the consumer, the merchant and the financial institution. Automated programs help identify troubled accountholders for valid counseling.

"Financial executives must act conscientiously, and consumers need to use their privileges wisely, not habitually," he stressed. "Otherwise, a beneficial and legitimate service will become abusive and abused, lessening its value to all parties involved."

JMFA'S OVERDRAFT PRIVILEGE(SM) is a service mark of John M. Floyd & Associates, Inc

FOR MORE INFORMATION OR INTERVIEWS:

John M. Floyd, CEO, John M. Floyd & Associates, Houston, 800-409-8670 or 281-424-3800; Web site, www.jmfa.com; e-mail, John.Floyd@jmfa.com

Preston F. Kirk, APR, Kirk Public Relations, Austin TX, 830-693-4447; kirk@281.com