BankThink

Holiday notice: Morning Scan will return on Monday, Nov. 28. Have a happy Thanksgiving.

Big banks are still levying overdraft charges. New technology startups can stem the tide and help digitally-savvy millennials manage payments and their budgets.

With access to financial transaction data under threat by hurdles imposed by certain financial institutions, it should be up to consumers to decide how their data is used to improve their financial well-being.

The megabanks that emerged relatively unscathed from the crisis are cited as proof of universal banking's benefits, but recent events have debunked that claim.

Receiving Wide Coverage ...More risky: Citigroup, Bank of America and Wells Fargo pose greater systemic risks to the global financial system than they did last year and had their capital requirements increased by regulators. The Financial Stability Board, which ranks the most systemically important financial institutions annually, also said Industrial and Commercial Bank of China presented more risk than last year. But HSBC, Barclays and Morgan Stanley—which sold all or part of their riskier businesses or reduced the size of them—were all deemed to be less systemically risky and had their capital requirements reduced. Globally, 30 banks are considered systemically important and subject to extra capital requirements. Financial Times, New York Times

Illegal methods of moving money are just as likely to be low-tech and old school as high-tech and sophisticated. Surveillance methods and processes need to be able to counter both.

A bill looming in Congress would require the Internal Revenue Service to accept electronic transmission of lending-related forms, which could speed up the lending process by days.

Politicians clamoring for the largest U.S. institutions to be broken up have failed to consider the prospect of China acquiring a bigger piece of the American banking system.

Wall Street JournalTighter grip: The OCC Friday unilaterally revoked parts of its recent regulatory consent order with Wells Fargo following the bank's phony accounts scandal. The agency ordered Wells to first seek its approval before changing its business plans, hiring or firing senior executives or revamping its board of directors. The bank was also banned from making golden parachute payments to departing executives without OCC approval.

The EMV migration has been sluggish, but it's a vital part of protecting cardholders.