Consumer banking
Consumer banking
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Banks generally did not curtail loans to existing cardholders last year despite mass unemployment, according to new research by the Consumer Financial Protection Bureau. The results contrasted with what happened during the Great Recession.
October 1 -
The company has agreed to buy Fortune Financial, which would give it a toehold in the St. Louis area.
September 30 -
Rohit Chopra, a liberal consumer watchdog, was approved as the agency’s director nine months after the Biden administration first announced him as the nominee.
September 30 -
Acting Director Sandra Thompson said the Federal Housing Finance Agency is considering changes to the risk-based fees that critics say have disproportionately hurt minority borrowers of low down-payment loans.
September 30 -
The account, which is similar to those offered by numerous other banks and credit unions, has been certified as meeting certain affordability criteria for low-income people.
September 30 -
The cash and stock deal, which is expected to close early next year, would nearly triple the number of branches Mississippi-based BancPlus has in the greater New Orleans area.
September 30 -
The Federal Reserve’s efforts to update supervision policy can result in institutions having the flexibility they need to compete with fintechs, according to Gov. Michelle Bowman.
September 29 -
In many cases, stopping fraud in the moment is costly — and any transactions a bank flags incorrectly could alienate its best customers, a Bangor Savings Bank executive said at American Banker's Card Forum.
September 29 -
Rather than targeting the masses, the founders of these neobanks are narrowing their focus to serve people who may benefit from specialized products and services. The latest example: Nerve, a banking app for musicians.
September 29 -
Traditional financial institutions face pressure to imitate fintechs that have brought many consumers into the mainstream. Yet cash must be a key part of efforts to expand access, since it's still crucial for many low-income families, the elderly, migrants and others.
September 29 -
Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.
September 28 -
Mary Hines Droesch will oversee the strategy, design and management of lending and deposit products for retail and small-business customers of the bank.
September 28 -
The Consumer Financial Protection Bureau may investigate cryptocurrency providers for mistreating customers, but the agency’s supposed interest in the burgeoning sector is reviving a debate about the CFPB’s authority.
September 27 -
Banks should be careful not to overreact to the pandemic recession and assume that the public is willing to forgo personal service. More than 40% of consumers say having a branch nearby is their primary reason for picking a bank.
September 27 -
Genesis Bank, the second minority depository institution aimed at multiple demographic groups, says loan demand has far exceeded expectations and that it will seek additional capital to meet the credit of needs Asian, Black and Hispanic consumers in Southern California.
September 26 -
Russell Columbo will step down Oct. 31 after 15 years at the helm. The $4 billion-asset company has named its COO, Tim Myers, to succeed Columbo.
September 24 -
Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.
September 24 -
The midsize regional has long wanted to be a player in VC banking. Its deal for the U.S. arm of Israel's Bank Leumi would give Valley global scale in this lucrative line of business.
September 23 -
Marc Womack, a former executive at JPMorgan Chase, Capital One and GE Capital, will join the subprime auto lender next month.
September 23 -
Its deal for the unaffiliated but similarly mission-focused Amalgamated Bank of Chicago would create a $7.6 billion-asset institution serving unions, nonprofits and organizations that support environmental sustainability and social enterprises.
September 22

















