Checking

By working with the tech giant on its consumer checking account, Stanford FCU hopes to grow but some wonder about the broader implications for fields of membership.

Questions about the search giant's planned use of transactional data resonate not only with wary consumers, but also with banks that are worried about big tech’s financial services ambitions, as well as lawmakers and regulators concerned about the tech industry’s growing reach.

Google has partnered with Citigroup and a California credit union to offer consumer checking accounts, a person familiar with the matter said.

Tech giant takes will work with Citi; the bank reportedly asked IT providers to return some of the money it paid them in 2018.

Tinker Federal Credit Union has allowed the retailer to install its lockers at several locations. It's one of a variety of new tactics institutions are using to get potential new members in the door.

After a news report said the bank kept alive accounts customers thought they had closed, Sen. Elizabeth Warren told acting CEO Allen Parker in a letter that Wells is "still fundamentally broken."

The health care payments market is big – accounting for over one in six dollars of the U.S. GDP – yet it remains perpetually outdated with its heavy reliance on using paper statements for sending out bills.

Accounts that offer high interest rates can bolster fee income and lower noninterest expenses, though credit unions have to carefully watch these products to ensure they actually make money.

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services.

The bank will reduce its footprint to its German roots; U.S. banks are offering cash bonuses to keep customers from fleeing to higher-yielding accounts.