CFPB gets earful from consumers about mortgage servicers
Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronavirus relief law.
Bisignano's priorities as Fiserv CEO: Bond with banks, invest in tech
Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.
Financial institutions are looking for a way to return some employees to their workplaces while prioritizing safety. The answer may involve contact tracing technology and the automation of a wide range of activities.
Coronavirus through the eyes of front-line bankers
Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They've processed emergency-relief loans late into the night, coached customers unfamiliar with mobile banking and made house calls to elderly account holders.
Is Fed taking too long on middle-market loan relief?
The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.
Why Samsung is following Apple, Google into consumer banking
In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers' adoption of contactless payments.
The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.
South African bank's approach to chatbots offers lessons for U.S. players; small lenders embrace automation for latest PPP round; flush with capital, Canadian banks eye U.S. acquisitions; and more from this week's most-read stories.