Though they won’t name names, fintech leaders claim tier-one U.S. banks string them along, fail to communicate, don’t pay anything and, worst of all, out-and-out steal intellectual property.
The Midwest bank said that digital usage rose 400% after a makeover of online and mobile banking platforms that was meant to make them more customer-friendly, more competitive with big banks and quickly responsive to customer feedback.
Increased investor appetite and the emergence of specialized debt ratings are expected to spur demand, and community banks are looking for ways to fund expansion and hedge against future economic downturns.
The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.
The Salt Lake City bank reported strong 3Q results despite unexpected expenses tied to hurricane damage in its Texas market, and it vowed to stay on track in meeting its cost-savings goals.
With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data.
Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall.
British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.
The company, which will officially report results later this week, took hits tied to its planned spinoff of BankMobile and losses tied to an overseas investment.
Readers weigh in on how women can advance in business, the regulatory playing field for banks and nonbanks, the CFPB's payday loan rule, ATM withdrawals made through mobile wallets, and more.
Managing Director
Center for Financial Services Innovation
The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability.
Cryptocurrencies will not gain widespread traction with corporations and governments as long as there remain crucial questions about their volatility, risk, volume and shadowy affiliations.
Personalized experiences are becoming more prevalent in banking with digital assistants and apps, thanks to AI. Getting more women on boards is part of the job for JPMorgan Chase's Karen Simon. Why aren't 'good guys' better allies? (Carrie Fisher sure is.)
In many countries, customers bank for free, but the reality is the poor largely subsidize “free” banking services through overdrafts and consumer loan payments. This model is seriously flawed, but it is about to change.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
Recently, the Aite Group surveyed 1,000 U.S.-based businesses generating between US$100,000 and US$20 million in annual revenue with the intention of understanding how well US-based small businesses are being served by their bank partners.
M&T Bank has embarked on an epic quest to put the customer at the center of everything the company does, launching a multi-year, enterprise-wide effort to modernize and centralize the management, delivery and measurement of all outreach to customers and prospects.
Financial institutions are turning to artificial intelligence (AI) to automate manual processes, emulate human decisions, and improve the accuracy of surveillance strategies.
