Consumer banking
The rate of unbanked consumers declined to its lowest point since the Federal Deposit Insurance Corp. began its biennial survey in 2009.
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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
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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 -
Any limitations on the distribution of pandemic relief and other payments are the result of instructions from the IRS, or the Federal Reserve's failure to operate a 24/7 payments system — and not shortcomings of the automated clearing house network, writes the head of Nacha.
October 20 -
The Rhode Island bank continues to build out a national consumer banking platform, while also reducing its exposure to higher-risk asset classes as the economic outlook darkens.
October 19 -
Yet the Detroit company's stock fell more than 8% after its earnings report, indicating the market "seems more tentative" than Ally about the credit outlook, one analyst said.
October 19 -
Sixteen bank members of the Alloy Labs Alliance have come up with a set of rules for banking as a service, and who is responsible for what.
October 19 -
Citizens Financial said it would pay $67.4 million to buy HV Bancorp, the holding company for Huntingdon Valley Bank, in a bid to expand in Greater Philadelphia.
October 19 -
An uptick in so-called operating losses helped drive up noninterest expenses excluding M&A costs at Truist Financial by 2% year over year, complicating its efforts to achieve positive operating leverage. The cost of reimbursing customers hurt by fraud seems to have been a contributing factor.
October 18
