BankThink

Traditional financial institutions face pressure to imitate fintechs that have brought many consumers into the mainstream. Yet cash must be a key part of efforts to expand access, since it's still crucial for many low-income families, the elderly, migrants and others.

Banks should be careful not to overreact to the pandemic recession and assume that the public is willing to forgo personal service. More than 40% of consumers say having a branch nearby is their primary reason for picking a bank.

Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

Merchants and banks have taken predictably opposing positions on a Federal Reserve proposal to increase competition among networks that route online debit transactions. But amid the hundreds of comments, it's those from supposedly neutral parties — the Department of Justice and the Federal Trade Commission — that stand out.

A Biden administration proposal to give the IRS access to individuals' banking data is a violation of consumer privacy, writes Sen. Mike Crapo.

Large banks have received CRA credit for Paycheck Protection Program loans and all types of modifications two to three times more frequently than small banks. The latter need to press examiners to recognize the contribution they’ve made to their communities.

Companies that put in place procedures and technology to analyze data from phone calls, emails, chats and other communications can help front-line workers avoid repeating customer service mistakes.

The revenue that banks earn from these loyalty programs provides a substantial offset to potentially shrinking interchange fees.

The market for short-term installment credit is growing among millennials and Gen Z consumers who distrust credit cards. Banks are letting a golden opportunity slip away.