Consumer banking

A startup’s ambitious goal: Put check cashers out of business

01/08/18

Many low-wage employees continue to be paid by paper check. WiseWage has built an online portal on the idea that workers and their employers have a shared interest in electronic paychecks.

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Consumer complaints surge for Capital One, fall for Wells Fargo

01/05/18

Consumer Financial Protection Bureau complaints dropped last year for most of the big banks, including Wells Fargo, though they rose sharply at Capital One.

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Don’t forget your top performers during times of change

01/04/18

Banks are working hard to reshape their businesses to meet new demands, but leaders must be careful not to alienate their best workers in the process.

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Retailers score latest win in fight to allow credit card surcharges

01/03/18

Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday.

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How banks use behavioral economics to win over customers

01/03/18

The aim is not just to get consumers to act on a credit card offer or open a savings account, but to use the insight gleaned to build long-term relationships — without coming across as manipulators.

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Goldman to take $5B tax hit; PwC called negligent in bank failure

01/02/18

But bank will benefit long-term from tax reform; judge says accounting firm failed to detect mortgage fraud that did in Colonial Bank.

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New CEO's challenge: Bring bank into 21st century

12/29/17

Carter Bank & Trust’s founder shunned internet banking and handled most executive duties himself. He died in April and his successor, Litz Van Dyke, is now working at breakneck speed to modernize this once-hidebound Virginia bank.

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What WSFS chief Mark Turner learned on his 3-month innovation tour

12/28/17

After visiting with dozens of banks, tech firms and retailers, the CEO of the Delaware bank concluded that he needed to create a customer experience department but could leave blockchain development to his larger rivals. He also gained valuable insights about succession planning during his time away and discovered new ways to connect with employees.

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CFPB says credit card debt is back at pre-recession level

12/27/17

Credit card debt hit $807 billion in the fourth quarter of 2016, with consumer balances on average exceeding $4,800, according to a report released by the Consumer Financial Protection Bureau.

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‘Financial reports must have been fictional’: Comments of the week

12/21/17

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and more.

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