Consumer banking
FDIC data shows an uptick in the number of Americans with access to basic banking services. That momentum has to continue.
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High-net-worth clients with large policies borrow, on average, $500,000 to $800,000 to pay their premiums. Peapack-Gladstone predicts the product, which it launched this month, will be one of its top business lines within six years.
October 28 -
Kristin Lemkau, CEO of J.P. Morgan Wealth Management, discussed the launch of the company's Personal Advisors hybrid advisory channel and the challenges of managing and recruiting talent at American Banker's Most Powerful Women in Banking conference.
October 27
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Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.
October 27 -
Masons Financial will make it easier for lodges to collect dues and for members to pool money for charity.
October 26 -
New Consumer Financial Protection Bureau guidelines say overdraft fees "that a consumer would not reasonably anticipate" could be illegal. President Biden and CFPB Director Rohit Chopra promoted them at a press briefing Wednesday.
October 26 -
The rate of unbanked consumers declined to its lowest point since the Federal Deposit Insurance Corp. began its biennial survey in 2009.
October 25 -
The bank is using Google Assistant technology to power its virtual assistant, Fargo, according to Michelle Moore, head of digital at Wells.
October 24 -
A big settlement with the Consumer Financial Protection Bureau and recent changes to overdraft policies by the Alabama company helped drive down its third-quarter profits by 34%.
October 21 -
The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.
October 20
