Consumer banking
The Consumer Financial Protection Bureau released fourth-quarter data last week showing a big drop in revenue from overdraft and nonsufficient-funds fees in 2022 compared with 2019 as big banks reduced or eliminated certain fees.
-
A pair of mutual banks in Maryland and New York that sold minority stakes more than a decade ago are pursuing second-step offerings that will result in both becoming fully stock-traded companies.
May 24 -
Customers of banks that provide small-dollar loans are still turning to higher-cost lenders, according to a recent survey. The significance of the findings has sparked a debate between the payday lending industry and its critics.
May 21
-
The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."
May 18 -
During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.
May 18 -
The bank's new Long Game app rewards users for saving and dangles the chance to win cash prizes.
May 17 -
Borrowers from certain nonbank lenders that have been identified as magnets for Paycheck Protection Program scams also committed check fraud at elevated rates, according to a new data analysis. Banks could use that kind of data from the pandemic-era government program to spot bad actors.
May 17 -
In recent years, stress tests have not accounted for some very clear real-world risks. This must change immediately.
May 17 -
Brent Grable will take on managing IT and operations at the Massachusetts bank. He formerly worked at Santander and State Street.
May 16 -
Bank of America and JPMorgan Chase are particularly active as they build educational microsites and drive digital lending with EV manufacturers.
May 15
