Consumer banking

How OCC can help banks disrupt the payday loan industry

05/23/17

With the future of payday lending in flux, the Office of the Comptroller of the Currency has the ability to help provide consumers with a better credit option.

[more]

Why big banks are in an arms race to upgrade the 50-year-old ATM

05/22/17

The gray-bearded ATM would seem like a goner since mobile usage is surging and cash withdrawals are flatlining. But banks such as JPMorgan, B of A and PNC are pouring money into overhauling them in a bid, oddly enough, to attract a younger generation of customer.

[more]

Citi's Suni Harford joins UBS; the female entrepreneur penalty

05/18/17

Suni Harford is off to UBS, Nina Fanlo is leaving SoFi, and Shaza Andersen is selling the bank she founded. Also, you should hear how venture capitalists talk about female entrepreneurs.

[more]

Wells Fargo, consumers try to rescue bogus-account settlement

05/18/17

Both sides of Wells Fargo's $142 million settlement over its fake-accounts scandal made last-ditch efforts to salvage the class-action pact after a federal judge voiced misgivings about some of its terms.

[more]

Flashback: When sales quotas seemed like a good idea

05/18/17

In March 1998, American Banker reported plans by Norwest Corp. to establish sales quotes and step up cross-selling. Three months later, the Minneapolis bank merged with Wells Fargo.

[more]

Hackers tough new task: Cash in their bitcoin; Dimon takes the heat

05/17/17

Cashing in digital currency for government-backed paper may not be so easy; JPM CEO is taken to task by shareholders for his close ties to President Trump.

[more]

Is TCF jumping from 'frying pan into the fire’ by holding, not selling, car loans?

05/15/17

The Minnesota company recently announced that it would stop selling auto loans since credit quality concerns have slowed investor demand, but it is unclear whether its plan to keep all its car loans on its books is less risky.

[more]

New fake-accounts tally surfaces; Wells Fargo disputes it

05/12/17

Wells Fargo may have opened as many as 3.5 million fraudulent accounts in the last 15 years, according to consumers who are trying to beef up a settlement with the bank over abusive sales practices.

[more]

‘Like humans do’: Comments of the week

05/12/17

Readers sound off on the use of AI in underwriting, the reasons for the failure of a Milwaukee bank, U.S. banks’ progress in adopting APIs, and more.

[more]

Chase outage knocks out payments service for customers nationwide

05/11/17

The glitch primarily affects payment services, including bill pay and QuickPay, the company’s peer-to-peer service.

[more]