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Market Intelligence:
AI
Payments
Research
  • Credit unions
    A look at the unionization efforts at two small financial institutions

    Employees at Genesee Co-Op Federal Credit Union in New York and Beneficial State Bank in California formed unions in the past year to bargain for better wages and reform their corporate cultures. Will workers at other community institutions follow their lead?

    By Frank Gargano
    Data Reporter
    February 14
    Genesee Co-op Federal Credit Union walk-out
  • Payments
    Fintechs see fresh opportunity in Africa

    Mobile payments got an early start in parts of Africa more than a decade ago, but the continent's overall banking infrastructure lags far behind, creating a void for companies like AZA and WorldRemit to fill.

    By John Adams
    Executive Editor, Payments
    February 14
    Elizabeth Rossiello, AZA
  • Technology
    She loves me not: How banks can fight romance scams

    Faux love interests have netted more than $1 billion from victims in the past five years. Here's what banks can do to shield account holders from fraudsters.

    Carter Pape, American Banker
    By Carter Pape
    Technology Reporter
    February 11
  • Consumer banking
    U.S. consumers stand to save billions from banks' overdraft reforms

    Large and regional banks are not only slashing overdraft fees, they’re introducing small-dollar loans to help customers cope with income shortfalls. The policy changes made recently by just five banks could save consumers as much as $2 billion a year, according to a new analysis.

    By Allissa Kline
    Reporter
    February 10
  • Politics and policy
    CFPB chief ratchets up 'junk fee' rhetoric

    "In many cases, these are fees where there's not even a service provided or where the bank or financial institution doesn't even do any work,” Rohit Chopra of the Consumer Financial Protection Bureau said Thursday in public remarks.

    berry-kate126x126.jpg
    By Kate Berry
    Reporter
    February 10
    chopra2-030521-topten.jpeg
  • FedNow Field Guide for Banks
    What banks in North America need to know and do to offer FedNow services to their customers.
    Partner Insights from ACI Worldwide Partner Insights Sponsor - Real Time Payments
  • Fraud detection
    30 banks, nonprofit team up to fight human trafficking at Super Bowl

    The Knoble, a nonprofit, is bringing together bank financial crime experts, law enforcement officers and the tech company Prove to help identify criminals and their victims in Los Angeles.

    Penny Crosman Cropped
    By Penny Crosman
    Executive Editor, Technology at Arizent
    February 9
    Ian Mitchell, founder, The Knoble
  • Payments
    What Apple's pact with Stripe means for the point of sale

    Tap to Pay on iPhone turns any of the tech giant's recent smartphones into a card reader, but since Apple doesn't provide its own merchant services, it stops short of becoming a direct threat to acquirers and payment facilitators.

    By John Adams
    Executive Editor, Payments
    February 8
    Jennifer Bailey, Apple Card
  • Consumer banking
    4Q rise in credit card balances was largest on record

    Borrowing on plastic climbed by $52 billion in the fourth quarter, the New York Fed found, as consumers splurged on holiday shopping and inflation drove up the cost of goods and services. It's the biggest jump in the 22 years the data has been tracked.

    By Jon Prior
    Staff Writer
    February 8
  • Tax
    Nasty family drama with Bank of America board member exposes tax risk of gifts

    R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.

    By Lynnley Browning
    Managing Editor
    February 8
    Intrafamily loans have sparked a huge fight between a Wall Street executive and his son-in-law.
  • M&A
    Fed, OCC set public hearing on U.S. Bank-Union Bank deal

    The March hearing, to be hosted jointly by the Federal Reserve and the Office of the Comptroller of the Currency, is coming at a time when lawmakers and community groups are pressing federal agencies to apply more scrutiny to bank mergers.

    By Jon Prior
    Staff Writer
    February 7
  • Consumer banking
    Democratic senators seek details on JPMorgan’s collection practices

    Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.

    By Jon Prior
    Staff Writer
    February 7
  • Payments
    Health care workers are quitting in droves. Can flexible paydays help?

    Earned wage access companies are finding that their product, which allows employees to receive a portion of their salary ahead of the traditional two-week cycle, can aid nurses and other professionals in addressing the work-life imbalance that contributes to the Great Resignation.

    By John Adams
    Executive Editor, Payments
    February 7
    Hospital worker
  • Community banking
    Small banks aren’t planning to jump on buy now/pay later bandwagon

    Eight out of 10 community bankers said in a new survey that the installment loan product appeals to them far less than it does to many fintechs and larger banks.

    By Jon Prior
    Staff Writer
    February 4
  • Community banking
    A West Virginia bank's bet on gambling and fintech is paying off

    MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.

    By Kate Fitzgerald
    Senior Editor, Payments
    February 4
    DraftKings and FanDuel
  • Regulation and compliance
    North American banks trail Europe's in assessing climate risk

    Only 12% of large and regional banks in the U.S. and Canada are running the scenario analyses that regulators are poised to recommend, according to a new survey. Observers say progress has been faster on the other side of the Atlantic, as European banks and their regulators have moved more quickly to develop a uniform system for quantifying risks.

    By Polo Rocha
    Staff Writer
    February 3
  • Technology
    KeyBank moves more applications to Google Cloud

    The bank is a longtime user of the tech giant's infrastructure. It’s now ready to put its primary platforms there.

    By Miriam Cross
    Tech Reporter
    February 3
    Amy Brady, chief information officer at KeyCorp
  • Payments
    Zelle payment volume rose 60% in 2021

    The increase was driven by small businesses including property managers, contractors and beauty salons.

    By Kate Fitzgerald
    Senior Editor, Payments
    February 3
    Frustrated consumers flooded the CFPB with comments about money stolen in fraud schemes using Zelle, an online payment system owned by seven banks.
  • Payments
    Why Citi and other big banks are investing in Latin American fintechs

    Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

    By Robin Arnfield
    February 3
    Luis Valdich, managing director of venture investing at Citi Ventures
  • Community banking
    Arizona to get its first new bank in 14 years

    Four-fifths of the state's community banks have disappeared since the start of the 2008 financial crisis. The founder of the newly chartered Scottsdale Community Bank calls the market "drastically underbanked."

    By Jim Dobbs
    Deputy Editor, Community Banks
    February 3
    Scottsdale, Arizona, 2009
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