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 programs. While legislation has failed numerous times in the past, she describes the shifts some financial institutions are using to revitalize the image of their overdraft solution.
As financial institutions adjust to maintain effective operations amid COVID-19’s sustained grip on the country, their decisions regarding key elements of their operations and service delivery strategy can be influenced by legislative and political agendas and market influences.
0:23—Overview of Overdraft Protection Act of 2021
0:42—Common themes of the proposed legislation
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