A consumer debt threat, fintech mania, and the crisis never ended: Top stories of the week

Published
  • August 03 2018, 4:11pm EDT
Consumers are back to their old spending and saving habits; Trump administration is encouraging financial innovation; some fintech firms could soon be regulated more like banks; and more from this week's most-read stories.

1 Consumer debt is at an all-time high. Should banks be worried?

As memories of the financial crisis fade, consumers are back to their old spending and saving habits — and that could be a big problem.

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2 6 takeaways from Treasury fintech report: National charter, breaches and more

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.

(Full story here.)

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3 The crisis isn't over

Ten years ago, it was a banking crisis, but it became a political one. That crisis never ended.

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4 After years of debate, OCC to offer fintech charter

The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks.

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5 Where GSE reform went wrong

Fannie Mae and Freddie Mac remain in conservatorship nearly a decade after the financial crisis, and there's still no end in sight.

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6 Go Midwest, young fintechs

Some startups are eschewing San Francisco and New York to set up shop in the middle of America. And for good reason.

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7 Inside USAA’s redesign of its digital offerings

Chief Design Officer Meriah Garrett provides a look at the bank's efforts to make mobile app and website design more user-friendly.

(Full story here.)

8 Fintech vendors keep reinventing themselves – and banks are struggling to keep up

Vendors keep merging, and new ones keep forming. For banks, the change brings access to more options, but shorter relationships.

(Full story here.)

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9 Synchrony at strategic crossroads after losing Walmart deal

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.

(Full story here.)

10 The weak spot in banks' cyberinsurance

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

(Full story here.)