Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.
The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.
Readers weigh in on how Mick Mulvaney is remaking the Consumer Financial Protection Bureau, chime in on JPMorgan’s plans to roll out more branches, react to fee income trends and more.
As customers become more tech-savvy, the bank said it no longer needs to prod them to use its digital products by offering discounts. Account holders can avoid fees by enrolling in direct deposit.