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Failure to Renegotiate Card Contracts has Consequences

By Kelly Flynn, National Director

As the deadline approaches for transitioning to new, more secure EMV (Europay, Mastercard and Visa) debit and credit cards, many financial institutions are concerned about the time and expense that will be required to reissue new cards to their account holders. In reality, this deadline provides a tremendous opportunity to renegotiate debit and credit card, and card processing contracts to make sure your institution is getting the very best price, terms and services from your current vendors. In addition to providing your account holders with the latest in card fraud protection, learn how a contract review and renegotiation and benefit your bottom line.

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Peer-to-Peer Evaluations are Critical to On-Going Board Excellence

By Keith Hughey, Senior Consultant

As financial institutions continue to face increased competition – along with regulatory and economic challenges – it is imperative that the board of directors is providing effective support and guidance on matters involving governance, policy and strategic direction. However, if board members aren’t actively engaged and participatory – or don’t possess the knowledge necessary to contribute to the discussion – their presence can have a negative impact on the institution.  Implementing a peer-to-peer review process can promote effective board involvement and support on-going growth opportunities for individual board members.

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CFPB Updates Rulemaking Schedule

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.

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JMFA News – JMFA Announces New Regional Director

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.

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Categories: Articles
Corporate Culture Should Accurately Reflect Your Stated Values

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.

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