Last week, the VBA distributed the news release "Top 10 Money Tips Every College Student Should Know" to our statewide media contacts. The release contains money management advice to help college students get an early start on securing their financial futures. Banks are encouraged to customize this release and distribute to your own media contacts.

The summer issue of Virginia Banking will be in the mail (and in your inboxes) in the next couple weeks. Keep an eye out for the latest news from VBA, including features on 2018-19 VBA Chairman Scott Harvard, an update on TRID and "gifts of equity," and recaps from some of VBA's biggest events like the 125^th Annual Convention and the VBA/ABA Government Relations Summit.

Payroll card users represent a diverse section of the American workforce, including both banked and underbanked consumers, according to a new study by the Center for Financial Services Innovation. The study found that the majority of payroll card users use the cards in addition to other bank products — suggesting that many are actively choosing to have their paychecks delivered via a payroll card. (ABA Banking Journal)

A recent survey showed that less than 8 percent of financial institutions had a formal, first year bank to business onboarding program. More than 70 percent of banks suggested it wasn’t even on their radar. Here, Jack Hubbard shares a powerful anecdote illustrating how far banks still have to go when it comes to onboarding new clients. (LinkedIn)

Early Warning Services LLC, the network operator behind Zelle, has released the results of its first Digital Payments Adoption Study ("study"). Results show that adoption and usage of digital person-to-person (P2P) payments are high among all generations, with consumers pointing to trust in friends and family and trust in their financial institutions as the primary reasons for engaging in a digital payment. (Finextra)

This year’s Virginia Bankers School of Bank Management first year students participated in the class, The Cartography of Innovation, where the instructor Scott Wayne explored the experiential approach to generating ideas by living more diverse personal and corporate lives. During this class, students discussed the power of lifestyle technology companies. A recent, interactive New York Times article shows how other companies are seeing themselves as "sub-products" of the technology giants. (New York Times)

With members of Congress heading home during August, it’s a perfect opportunity for bankers to host lawmakers in their banks using ABA’s Take Your Lawmaker to Work program. For a little more inspiration, listen to Jennifer Luce’s story of building a grassroots advocacy network at her Colorado bank. (ABA Banking Journal)

In a recent article, Promontory Interfinancial Network, a VBA Endorsed Provider, outlines the impacts of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 for banks and local communities, including the benefits of reciprocal deposits no longer being considered "brokered deposits."

Just when banks have started to adjust to the marketing trends and preferences of Millennials, a new generation is being ushered in and is ready to shake up the financial industry yet again. EVERFI, a VBA Endorsed Provider, explores how Gen Z bank marketing is an exciting new frontier and the latest buzz in the financial industry.