A fully disclosed overdraft program helps consumers make an informed decision when they’re looking for a way to address occasional financial shortfalls and emergencies. With regulatory and legal scrutiny on the rise, it’s also the best way for your institution to avoid potential compliance and legal uncertainty. Learn how a professional, in-depth review of your program disclosures, procedures, employee training and communications materials can reduce your risks, while greatly improving your program’s overall results.

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Spring has new meaning this year as we move into what is hopefully a brighter, more normal environment. As you consider ways to make the most of the opportunities that lay ahead, make sure your overdraft strategy includes compliant processes and the program management support necessary to optimize your service and performance results. With so many pressing matters on your plate, you don't have to do it alone. Here are a few proven recommendations and resources from JMFA to help you get the best possible outcomes in 2021.

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We focus on the trend of overdraft program litigation focused on community banks and credit unions. Find out a few of the common areas that lawyers are directing their attention to that could put you at risk.  Read more

As the account onboarding process shifts from personal, in-branch interactions to remote digital channels, it’s important not to drop the ball with it comes to fully communicating how your overdraft program works and how it can be accessed. Learn how attention to onboarding disclosures—along with consistent follow-up throughout the life of an account—can build account holder loyalty and prevent compliance concerns.

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The National Credit Union Administration (NCUA) has approved a Proposed Rule that amends 12 CFR § 701.21(c)(3). The proposal will modify the maximum time a Federal Credit Union may allow a member to cure an overdraft. Learn more about the proposed rule and what impact it may have on your overdraft program. Read more

Get to know our National Sales Director for JMFA Contract Optimizer program—Kelly Flynn. She is helping our community bank and credit union clients uncover hidden savings, expand their service offerings, and reduce their workload so that they can focus on their day-to-day functions.

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A one-size-fits-all approach might be appropriate when selecting a warm winter scarf. But when it comes to implementing strategies to grow your institution or offer services to help account holders protect their financial well-being, tailor-made solutions provide much better outcomes for your institution and those you serve. 

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Please join us in welcoming Dan Boyer to the JMFA team! Dan will be working with community banks and credit unions throughout Illinois and Missouri. He has 18 years of industry knowledge and consultative experience—learn more about Dan. Read more

At the end of a year filled with more challenges than anyone could have imagined when it began, banks and credit unions anticipate how COVID-19 will continue to impact operations, performance and safe service delivery. But it will also be wise to remain vigilant in providing a transparent overdraft service, compliant practices and clear, consistent messaging for account holders who are struggling to make ends meet, in order to avoid potential compliance and legal scrutiny in 2021.

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While you take your overdraft program management to the next level with our Continuing Education,  we offer in 2021, Roy Seifert, our JMFA trainer is an integral part of the program. Let’s take a moment to meet him find out why he sees value helping you achieve your goals.

 

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