The Consumer Financial Protection Bureau (CFPB) recently announced another delay in any proposals regarding additional rules for overdraft programs, pushing the timeframe into 2015. And while such delays may have caused financial institutions to postpone implementation of an overdraft strategy, consumers with limited credit options continue to need access to low-cost solutions for accessing emergency funds. As regulators continue to consider their next steps, JMFA continues to provide a fully compliant overdraft solution that benefits financial institutions and their account holders.

Meet Jim Griffis, JMFA’s new regional director for New Jersey, New York and Pennsylvania. Jim joins our staff with more than 20 years of experience in sales and marketing, operations, project management and new product implementation across multiple industries.

By Keith Hughey, Senior Consultant

As the financial services industry works to regain consumer trust following the 2008 financial meltdown, regulators and industry leaders have addressed the important role corporate culture plays in maintaining the respect of account holders and prospects. But a certain corporate culture doesn’t exist just because a values statement appears in the strategic plan. Maintaining a strong culture requires a commitment by leadership to demonstrate best practices and sound judgment in all situations, and to create a workplace environment that recognizes and rewards integrity and respectful behavior.

By John M. Floyd, Chairman & CEO

Following the implementation of Regulation E opt-in requirements on charging overdraft fees for electronic transactions, consumer advocacy groups have monitored overdraft program marketing techniques used in large banks. In some instances they identified situations where inconsistent, unclear or incorrect information was provided to account holders. Find out how to alleviate compliance concerns and strengthen account holder relationships.

Temporary staffing needs can be a source of stress for financial institutions. Plus, with ongoing challenges in the financial industry and long-time employees entering in their retirement years creating vacancies at bank and credit unions, retaining highly qualified employees is key. With proper planning and expertise in place, fulfilling any staffing needs that arise can be a smooth process.

By Kelly Flynn, National Director

EMV Chip technology will soon alter credit and debit card standards. This change presents an opportune time for financial institutions to review card brand vendor contracts and discover possible savings and better terms, while providing stakeholders with a peace of mind.

By Keith Hughey, Senior Consultant

Make the most of your strategic plan to maintain a strong organization and achieve your goals. Many institutions believe that they are covering all the bases, however, many unknowingly omit certain initiatives that can make all the difference in staying profitable and competitive. Find out what your plan may be missing.

By Jan Southern, Senior Consultant

While the use of technology and mobile capabilities for accessing financial services is on the rise, having a balanced approach is necessary in order to maintain an effective high tech/high touch customer service strategy.

By Charles Shanley, SPHR, CFS, Executive Vice President, Recruitment Services

As Baby Boomers continue on their path to retirement, financial institutions have an opportunity to re-populate many of their open positions with energetic, eager candidates from the Millennial workforce. But the tool book is different for successfully recruiting these candidates. 

Combining the knowledge, talents and skills of a multi-generational workforce can provide a host of valuable resources in today’s changing business environment. But getting the most benefit from what employees of each generation have to offer requires the ability to understand what motivates individuals to contribute to making the institution successful.

By Keith Hughey, Senior Consultant

As financial institutions retool their business models to create a better service experience for consumers, it is also important to make sure they are creating a healthy work environment for employees. Ineffective leadership strategies can negatively impact growth potential just as much as outdated business approaches.

By Kelly Flynn, National Director

Maintaining proper cost controls is an ongoing function of operating a healthy institution. But when it comes to successfully renegotiating vendor contracts, getting the absolute best prices, terms and service takes industry and product knowledge, established vendor relationships and negotiations expertise.

By John M. Floyd, Chairman and CEO

As regulators continue to consider whether new rules on overdraft services are needed, too many consumers continue to express confusion regarding overdraft fees and policies implemented by financial institutions. The solution: Provide account holders with an effective solution for maintaining financial security and ensure total compliance with a fully communicated overdraft program.

By Cheryl Lawson, EVP-Compliance Review

The Consumer Financial Protection Bureau (CFPB) continues to keep overdraft programs in its sights. Learn more about the CFPB’s latest Data Point on checking account overdrafts report and how its findings will affect the timing of any possible future ruling by the Bureau on overdraft fees and procedures.

By Keith Hughey, Senior Consultant

With increased regulatory expectations, new technologies and changing service expectations, it’s important for financial institutions to provide ongoing staff development opportunities that enable employees to maintain the knowledge and skills they need to do their jobs effectively. And while most organizations realize the importance of providing training resources, the success of staff development efforts greatly depends on the value management places on maintaining an environment of learning and professional growth at all levels of the organization.