News Topic: Consumer banking

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study. ... Read full article

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%. ... Read full article

A three-stage plan combining data analysis, public disclosure and market-based regulatory intervention would better align financial services with what consumers really need. ... Read full article

The bank said the account is geared to consumers who want better control over their spending or are new to banking. ... Read full article

The deal continues Sound's push into markets north of its Tacoma headquarters. ... Read full article

The deal continues Sound's push into markets north of its Tacoma headquarters. ... Read full article

The company said the sale will provide more consistent financial results and allow it to redeploy funds to support other businesses. ... Read full article

Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices. ... Read full article

Data from the National Credit Union Administration shows that despite a dip during the second quarter, the rate of industry consolidation has not changed dramatically from last year, despite the pandemic. ... Read full article

If Congress wants to provide better access to banking services for low-income and rural Americans, they would be wise to consider financial services partners that operate as a not-for-profit model. ... Read full article

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls. ... Read full article

Late fees on loan payments and late-arriving documents tied to forbearance and loan forgiveness are just some examples of how delays caused by cutbacks at the U.S. Postal Service could affect lenders and their customers. ... Read full article

If the U.S. Postal Service can hold talks with big banks, like JPMorgan Chase, about offering financial services in post offices, then it could easily strike up similar conversations with credit unions. ... Read full article

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions. ... Read full article

Lenders initally won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in. ... Read full article

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month. ... Read full article

The slowdown in branch traffic brought on by the coronavirus outbreak has accelerated consumers’ adoption of online banking and other tech, meaning banks have no time to waste in digitizing their customer-facing applications, says Bruce Van Saun. ... Read full article

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as ... Read full article