I am checking to see if other banks are still doing business with FI-SI Madison. It is my understanding that they are now using another company, Payment Tech. We are ready to do a mailing but are wondering what other banks are doing. Has anyone gotten approval from OCC to continue doing business with FI-SI?

Using them for what, insurance, portal products, joint marketing...

They are a large company. Has something happened I haven't heard of yet?

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Andy Zavoina
Opinions stated are not necessarily that of my employer.

Several of FISI's packaged checking products include insurance benefits(AD&D and travel type insurance). Are they supposed to be providing us with updated materials with new disclosures? Are we supposed to retrain our personnel to make an additional insurance disclosure? It is safer to no longer offer these benefits?

Deleted double posting...sorry (or maybe I should leave it in for frustration emphasis??)

[This message has been edited by Brenda Canterbury (edited 11-02-2001).]

I talked with someone from FI-SI and was told that they do not believe that the insurance rule applies to them. He indicated that FI-SI is talking with the regulators now to get an opinion. In the meantime, their banker clients who disagree with their opinion either have to stop offering their checking account/insurance program OR try to wait it out and see what the reply is OR make some other decision.

I would be interested in hearing other opinions about whether FI-SI is covered.
My latest reading still says they would be as "any other institution that sells, solicits, offers, advertises an insurance product..."