Consumer banking
Technology designed to direct more consumers online can create difficulties for groups that rely on branches and other in-person services, according to Janis Bowdler, a racial equity counselor with the Treasury Department.
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Amid flooding and a lack of drinking water, Regions Financial announced a slate of fee waivers and loan deferrals, alongside a donation to a local United Way. Cadence Bank is supplying fresh water to ensure it can keep its doors open.
September 2 -
Banks have shuttered their branches in droves, with Bank of America and Wells Fargo leading the pack over the past year. However, increased regulatory focus on banking services in lower-income areas makes downsizing more difficult now.
August 31
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The Federal Reserve will roll out its much-anticipated instant payments system, known as FedNow, in the middle of next year. Yet many questions remain about who it will serve, how it will work and how quickly community banks will buy in to it.
August 31 -
Merely telling employees what to do may get the job done, but telling them why they're doing it fuels engagement.
August 31 -
The acquisition of Central Financial, expected to close in the first quarter of 2023, would create a bank with more than $10 billion of assets.
August 31 -
Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.
August 31 -
Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.
August 30 -
Drake Bank in Minnesota is working with the fintech B Generous to test whether installment loans can help bring in larger donations to nonprofits.
August 29 -
The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.
August 26
