News Topic: Consumer banking

Digital banks outscored brick-and-mortar banks in a recent J.D. Power study of customer satisfaction. However, the survey pointed to shortcomings in call center services, which are in high demand during the COVID-19 pandemic. ... Read full article

Many banks are offering low-interest loans to help consumers and small businesses withstand the economic shocks of the pandemic. Some are also doing away with ATM, overdraft and late fees because, as one CEO put it, that revenue “is not the most important ... Read full article

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit ... Read full article

It joins a growing list of banks temporarily shuttering branches as the novel coronavirus continues to spread across the country and more Americans stay home. Meanwhile, Citi and rival Wells Fargo became the latest banks to announce plans to pay bonuses to ... Read full article

Customers are increasingly concerned about taking a financial hit from the COVID-19 crisis and want to know more about fee waivers, credit-line increases and other things banks could do for them. ... Read full article

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award. ... Read full article

Automated and interactive teller machines aren’t germ-free in the best of times, and the pandemic has raised new concerns about the possibility of those devices infecting consumers and staff. ... Read full article

Many institutions said they would close branches, operate drive-throughs only, limit lobby visits to appointments or take other protective steps. Yet others want to stay open to promote public confidence in the banking system. ... Read full article

Habis, who joins the bank from MUFG Union Bank, will replace Michael Cleary, who left Santander last fall and recently joined Wells Fargo. ... Read full article

Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts. ... Read full article

The credit education provider plans to use its deep knowledge of credit scoring to advise account holders on how to improve their scores and cash management simultaneously. ... Read full article

The Consumer Financial Protection Bureau says the Cincinnati bank engaged in aggressive sales practices and open bank and credit card accounts without consumers' authorization in order to meet sales targets. ... Read full article

The network offering an array of vendor services to member banks named former trade group chiefs Camden Fine and Ed Yingling to its board and has hired former American Banker Editor-in-Chief Rob Blackwell as chief content officer and head of external ... Read full article

State Farm struggled to make its bet on banking pay off and decided like other insurers to exit the business. U.S. Bancorp swooped in to add deposits and credit card accounts at little cost or risk. ... Read full article

Harit Talwar, the head of Goldman Sachs' consumer banking business, is in the running for one of India's top banking jobs. ... Read full article

The Ohio credit card issuer is seeking to rebound following a tumultuous year in which top executives departed and key retail partners declared bankruptcy. ... Read full article

Recovery from a massive storm that touched down near Nashville is in its early stages, but bankers are looking at fee waivers and increased access to cash for those who were affected. ... Read full article

The bank’s disclosure of an impending enforcement action shows that the CFPB continues to crack down on aggressive practices that got Wells Fargo in hot water. ... Read full article