LONDON - (12/14/05) One bank here has pursued a novelstrategy for reducing customer complaints-it is removing clocksfrom its branches so members don't know how long they've beenwaiting. Newspapers here reported that NatWest Bank is removing theclocks, which had been prominent, as part of a company wide branchredesign and also so customers won't be as likely to count theminutes until their served. One employee was quoted by the Sun asobserving, ""If people have been standing waiting to see a cashierfor a long time they can get very cross. With a clock there, it wasdifficult for us to disagree with them. Without one it's harder forthem to complain."
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
9h ago -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
9h ago -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
10h ago -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24