JMFA News Archives

Make financial literacy a year-round commitment

Make financial literacy a year-round commitment

Amid the scrutiny of overdraft services by some lawmakers and regulators—and efforts by some large banks to distance themselves from the criticism of costly fees and undisclosed procedures—a strong case continues to be [...]

Is your overdraft program free from bias?

Is your overdraft program free from bias?

Incorporating consumer data and innovative technologies—such as artificial intelligence (AI) or machine learning—into service delivery strategies has become more commonplace amid the pandemic, changing consumer service expectations and increased fintech competition. It is [...]

Align your overdraft strategy with your market

Align your overdraft strategy with your market

Just as the holidays are approaching, price increases on everything from groceries to gift items to gasoline could have a Grinch-like impact on consumers who were already struggling with the ongoing economic impact of COVID-19. [...]

Overdraft criticism doesn’t have to be alarming

Overdraft criticism doesn’t have to be alarming

Determining the right approach for supporting members who occasionally come up against liquidity needs can be complicated given the current environment of regulatory speculation. News coverage of how some banks and credit unions are modifying [...]

“No fee” doesn’t mean no consequences

“No fee” doesn’t mean no consequences

Recent changes in overdraft fee practices at some banks and new product offerings by fintech providers have made a big splash in the news recently. Bolstered by a renewed interest in consumer protection initiatives by [...]

How does your overdraft strategy impact members?

How does your overdraft strategy impact members?

Lately, there has been much criticism about overdraft programs, stemming from the lack of transparency inherent in some program strategies. Much of the current disapproval expressed by critics in the political and consumer advocacy arenas [...]

Podcast: Overdraft Protection Act & addressing fees

Podcast: Overdraft Protection Act & addressing fees

In this episode JMFA’s EVP of Compliance Review, Cheryl Lawson, shares insight on recent topics making news headlines. She addresses a few continuous elements proposed by lawmakers to impose changes to regulations on overdraft [...]