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New York Fed research shows that credit card delinquencies are on the rise as more Gen Z cardholders are maxed out. TL;DR or Key points from the article *Collectively, Americans owe $1.12 trillion on their credit cards, according to a new report from the Federal Reserve Bank of New York. *Although total balances fell in the first few months of 2024, delinquencies are on the rise. *Young adults, who are also burdened by high levels of student loan debt, are increasingly falling behind on the payments https://lnkd.in/eWftzrv2

Financial institutions must meet today’s consumer expectations, stay relevant, and keep pace with new technology. In order to move forward strategically, these challenges need to be addressed with practical and effective solutions. Typically, there are 3 major obstacles standing in the way of community financial institutions’ digital transformation progress: 1) Core data processing compatibility issues 2) Resource constraints 3) Unfavorable vendor contract pricing ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions Learn more https://okt.to/uiDdkX

Between the media headlines and increased attention from regulators, there is an excessive amount of noise surrounding overdraft services. It raises questions…’Are overdraft programs going away?’ ‘Are all overdrafts bad?’ Watch this brief “Compliance Chat” video with Amanda Kephart and Cheryl Lawson as they discuss the uncertainty many community banks and credit unions are experiencing when it comes to their overdraft program. Find out more about what’s behind the recent regulatory pressure and how you can position your financial institution as a resource for your account holders. Plus, gain clarity on the marketplace as Cheryl offers useful insights into contributing factors for heightened scrutiny. ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/QaLgzR

Deposit account acquisition is one of the top things on your CEO's mind. We understand the significance of customizing your acquisition strategies to drive sustainable growth and profitability. With our proven expertise and industry-leading solutions, we can help you evaluate and enhance your current approach. Our comprehensive checking account acquisition evaluation aims to provide you with valuable insights into your performance metrics, identify potential areas of improvement, and develop tailored strategies to meet your specific goals. Access cutting-edge technologies and methodologies designed to streamline your acquisition process by leveraging our extensive experience and understanding of the industry. Contact us today to schedule a consultation and take the first step toward achieving your acquisition goals with confidence. ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/Y0iXkS

Just one day left to sign up for our live webinar "Upgrading your critical technology", happening tomorrow at 2pm central. Future proof your financial institution with modern technology offerings! #technology #financialinstitution #futureproofing #innovation ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/mqoHlh

LIVE WEBINAR: Upgrading Your Critical Technology: From Assessment to Action May 7, 2024 Learn how to critically evaluate potential technology vendors for capabilities that meet your needs and create a forward-looking technology roadmap that supports long-term goals while remaining adaptable to the industry’s fast-changing landscape. Sign up today https://okt.to/nxaV2k

To effectively navigate the increasingly dynamic regulatory environment surrounding #overdrafts, it is crucial for financial institutions to stay informed and proactive. This article from provides valuable insights into the evolving landscape of #OverdraftRegulations. By understanding the changing requirements and implementing robust #compliance measures, institutions can effectively manage risks and ensure regulatory compliance. ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/u9g8ts

If your financial institution is taking a “wait and see” approach to changes in the overdraft landscape, it could put you at greater risk. In this “Compliance Chat” video, Sean York visits with Cheryl Lawson to discuss how financial institutions can educate themselves properly to stay proactive in dealing with changes in the regulatory landscape for overdraft services. Your compliance department is responsible for protecting your financial institution and mitigating risks. However, in our industry, they are tasked with being experts in many different areas. No matter how great your compliance officer is, keeping on top of everything can be challenging. As the current environment for overdraft services continues to heat up, learn more about how ADVANTAGE can add support to your internal teams to help you stay proactive and responsive. ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/2FjIw4

Join us on May 7 for a deep-dive session where we unravel the complexities of evaluating and selecting critical technology that aligns with your strategic growth initiatives. Future proof your financial institution with a modern technology landscape. Save the date and secure your spot now! #technology #financialinstitution #futureproofing #innovation ADVANTAGE, powered by JMFA - Growth Solutions for Community Banks and Credit Unions https://okt.to/VHL0zb

Create a forward-looking Technology Roadmap that supports your community FI's long-term goals while remaining adaptable to the industry’s fast-changing landscape. https://okt.to/ISghQu