DALLAS - (02/17/06) -- Banking incentive company RennhackMarketing Services has introduced a new web-based incentive rewardsplatform aimed to supporting customer retention at banks and creditunions. BankingBonus is the online incentive platform thatspecifically targets the banking market, allowing banks and creditunions to add customer recognition and rewards tool and to provideincentives for front-line employees to improve customer service.The system allows both customers and employees to redeem points formerchandise, gift cards and leisure rewards using points earned.Employees could be rewarded for signing up new members, convincingexisting members to open new accounts or apply for a credit card.Members could earn redeemable points by referring friends orsigning up for automatic payroll deposit. BankingBonus featuresmore than 1,500 rewards items representing more than 380brands.
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The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
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The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
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After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
6h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
7h ago -
Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.
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U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.
7h ago