Bankruptcy Blogs

New pressure on banks to offer affordable consumer accounts

10/19/20

Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.

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Univest in Pennsylvania to shutter a fifth of its branches

10/19/20

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic.

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Can CDFIs help their communities while keeping investors satisfied?

10/19/20

Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved.

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Week ahead: New initiatives from credit union trades, regulator

10/19/20

Industry groups have launched new programs that are expected to carry over into 2021, while others are raising new calls for Congress to tackle data security.

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An attempt to make point-of-sale payment devices obsolete

10/19/20

MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.

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Ex-banker takes the helm at Naveo Credit Union

10/19/20

Andrea White, a former VP at Freedom National Bank, was named CEO of the Massachusetts-based credit union, the first time a woman has held that position.

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Merchants brace for 'friendly fraud' surge as holiday shopping moves online

10/19/20

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

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Citi to offer true name card for transgender customers

10/19/20

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

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NCUA chief unveils plan to tackle 'the civil rights issue of our time'

10/19/20

In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.

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Ex-Trump adviser Cohn predicts bleak future for community banks

10/19/20

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

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