Consumer Finance News

Big Banks Use Technology to Boost Customer Satisfaction

Community banks have long said they are the kings of customer service. But a new study shows technology may be the great equalizer for megabanks, as the quality of their mobile apps and online bank sites is prompting customers to say big banks' customer service has improved.

Bank Technology

Community Banking

Breaking News

Reset Risk Worse than Expected for Underwater HELOCs: RealtyTrac 12:01AM ET

Loan Demand Continues to Rise Nationwide, Fed Says 05:41PM ET

Citi Reaches Deal with MasterCard on Consumer Cards 03:41PM ET

KeyCorp Hires Ex-Citi Exec to Expand Mortgage Business 12:17PM ET

Citigroup Checks in the Mail After Bank Bungles Foreclosure Deal 11:51AM ET

Appeals Court Revives NCUA MBS Suit Against Barclays 05:55PM ET

JPM to Pay $50M Settlement for Robo-Signing, Other Bankruptcy Fouls 12:36PM ET

B of A Can Put Countrywide Behind It; Banks' MBS Woes Far from Over

Four years after agreeing to an initial settlement, Bank of America has won court approval for its $8.5 billion settlement with investors over Countrywide's mortgage practices. Here's an update on all the other big mortgage litigation outstanding.

Law & Regulation

National/Regional

Is Apple Pay a Fraud Magnet? Only if Banks Drop the Ball

Suggestions that Apple Pay is unusually vulnerable to fraud were quickly refuted this week. The fact remains, though, that extra care is needed when verifying cards for Apple's mobile wallet.

Bank Technology

Can Mobile Apps Prod Millennials to Save? This Startup Thinks So

Qapital, which launched its app in Sweden in 2013, is making its American entrance. It is the latest example of how firms are trying to inspire young consumers to save and mashes personal financial management with money movement.

Community Banking

Bank Technology

Unexpected Rate Dip Throws Wrench in Mortgage Servicers' Plans

Some newcomers to mortgage servicing did not hedge because hedging would have increased costs. Had rates moved up, the strategy would have paid off handsomely. Instead, it worked against them.

FHFA Can't Keep Renewing Refi Program Forever, Watt Says

The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.

Law & Regulation

Risk On, Risk Off: Associated Banc-Corp Chooses the Latter

The Wisconsin bank's cautious approach to technology and other innovations says a lot about its overall philosophy. It is treading carefully on Apple Pay, marketplace lending and other cutting-edge items while it is encouraged by its customers' switch to electronic banking.

Bank Technology

National/Regional

Small-Town Lender Conquers Email Overload

A consumer lender with nearly 300 far-flung offices struggled to keep up with multiple compliance projects using email and Microsoft Project. Then it turned to collaboration software, and demanded some customized changes, that helped tie its many loose threads together.

Community Banking

Bank Technology

Cryptocurrency Technology Set to Shake Up Correspondent Banking

Correspondent banking has long relied on a costly, multistep process to settle transactions. Now banks must weigh whether to adopt cryptocurrency technology that allows for faster, cheaper settlements or risk getting pushed out of the business entirely.
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National/Regional

Bank Technology

Combating Runoff: Branch Buyer Fights to Keep Deposits and Customers

HomeTrust Bancshares created a special call center and encouraged tellers to invite ATM customers inside the branches to answer questions and to differentiate the company from Bank of America in terms of fees.

Dealmaking & Strategy

Community Banking

Money Transfer Business Is on the Rise — Time to Get Out

International remittances grew at a number of banks last year, according to new data, but anti-money-laundering rules may make the fee-based business too expensive to keep.

National/Regional

Dealmaking & Strategy