BankThink

BofI strikes another unique deposit deal

08/03/18

BofI has agreed to buy $3 billion of deposits from Nationwide Bank as part of the insurance giant's exit from retail banking. The deal comes three years after BofI bought H&R Block Bank's deposits.

[more]

Less is more for OCC's fintech financial inclusion plans

08/03/18

The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.

[more]

Who needs banks? Stripe wants merchants to be card issuers

08/03/18

Sensing an opportunity in the small business credit card market, Stripe is setting out to outflank big banks by offering APIs to enable its clients to issue their own physical and virtual credit cards.

[more]

Head of D.C. de novo group disputes former insider's claims

08/03/18

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

[more]

‘Still a real need for … human interaction’ in retail banking’s future

08/03/18

Tory Nixon, who became Umpqua's chief banking officer this spring, is trying to drive more customers to use mobile banking (only 15% do so now industrywide) without alienating them in the process.

[more]

Senate Dems propose new crackdown on overdraft fees

08/03/18

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals.

[more]

Discover COO Hochschild named CEO as network faces heightened competition

08/03/18

Hochschild, the current president and chief operating officer, has been with Discover for 20 years, and will retain his title as president upon assuming the CEO role on Oct. 1. Nelms (pictured) will continue as executive chairman until his retirement early in 2019.

[more]

This Fed nominee deserves swift approval

08/03/18

The Senate has no reason to stall the nomination of Michelle “Miki” Bowman to fill the central bank’s community banker seat.

[more]

AIG profit dips on restructuring charge; RBS to resume dividends

08/03/18

The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.

[more]

'Homeowners screwed again': Comments of the week

08/03/18

Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.

[more]