News Topic: Consumer banking

Brian Brooks, the acting comptroller of the currency, used a selective (and dubious) interpretation of the Dodd-Frank Act to argue for more say on when banks can preempt state law. ... Read full article

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must think about tweak their marketing if they hope to reach them in an meaningful way. ... Read full article

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says. ... Read full article

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state. ... Read full article

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The Columbus, Ohio, company says it has delivered on M&A promises before, and many observers say its deal for rival TCF Financial is an opportunistic move in its bid to build a Midwestern powerhouse. But others questioned whether Huntington's ... Read full article

To improve a declining rating in the annual American Consumer Satisfaction Index, credit unions may have to make hefty investments in technology upgrades, something most of them can't afford. ... Read full article

Speaking at an investor conference, Bank of America's CEO said that additional aid is needed to help consumers, businesses, nonprofits and local governments ride out the pandemic. ... Read full article

It includes simpler Paycheck Protection Program forgiveness and a consistent approach from federal regulators to reforming the Community Reinvestment Act, says Bank of America's Christine Channels, who chairs the Consumer Bankers Association's ... Read full article

The Waterbury, Conn., parent company of Webster Bank joins a fast-expanding list of banks reducing the size of their branch networks to save money and focus on digital capabilities. ... Read full article

With R. Scott Blackley planning to leave for a role at a health-insurance startup, the credit card giant is promoting longtime executive Andrew Young. ... Read full article

CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar. ... Read full article

HSBC's management is looking at a complete withdrawal from its retail operations in the U.S., although a full exit from other businesses in the country is unlikely, according to a person familiar with the matter. ... Read full article

In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU. ... Read full article

Current economic conditions are greatly tied to controlling the spread of the coronavirus. To survive this volatile situation, financial institutions must be resilient. ... Read full article

As COVID-19 infections break records nationwide, some banks are once again closing lobbies. But many others are maintaining the status quo after instituting a host of safety protocols that didn’t exist in the spring. ... Read full article

The company's latest report predicted there could be sustained economic pressures well into next year tied to rising coronavirus cases. ... Read full article

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011. ... Read full article