News Topic: Consumer banking

Vernon Hill's U.K. bank sold $479 million of new stock and issued fresh details about its turnaround efforts. Those included plans to cease its controversial practice of purchasing design and branding services from a business owned by Hill's ... Read full article

As Metro Bank’s problems mount, calls for Hill’s ouster as chairman are getting louder. ... Read full article

Digit's savings app, relying on JPMorgan Chase's new real-time payments service, will offer customers an instant withdrawals feature that uses savings as a cushion against checking overdraws. ... Read full article

Financial institutions have often criticized the agency’s publication of consumer complaints. But the information provided can offer executives important insights into looming problems that might not yet have come to light. ... Read full article

The Consumer Financial Protection Bureau received over a quarter-million complaints in 2018, according to analysis by an advocacy group that urged the agency to maintain public access to its database. ... Read full article

Readers weigh in on Wells Fargo's latest efforts to mollify regulators, debate the value of a "mini CFPB" in California, consider proposed changes to the Community Reinvestment Act and more. ... Read full article

Elder abuse costs banks $1 billion in deposits a year, according to AARP. It has launched a video-game-style online training program that teaches bank employees what to be alert for. ... Read full article

A digital challenger bank is relying heavily on artificial intelligence to provide low-cost banking to low-income people and small businesses. ... Read full article

Departments across large institutions remain siloed, which leads to poor customer service. Fintechs are poised to take business from unhappy consumers unless banks address this problem. ... Read full article

The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement. ... Read full article

Big banks may have found a way to lower needed reserve levels; with Brexit delayed, Goldman will hold off on expansion. ... Read full article

Tandem Bank has approval from the Georgia Department of Banking and Finance as its aims to become the state's first new bank since the financial crisis. ... Read full article

The state should overhaul its Department of Business Oversight, but proposals to create a statewide financial protection bureau miss the mark. ... Read full article

The Money Anxiety Index, a measure of consumer saving and spending habits, has started rising off a 50-year low. The economist who created it says that means another slump is nearing, and that banks should use the intel in pricing deposits and making other ... Read full article

The Birmingham, Ala., bank's profits fell 32% as its loan-loss provision tripled. The expense covered “isolated, one-off issues” in its commercial and consumer loan portfolios, CEO Javier Rodriguez Soler said. ... Read full article

Jacqueline Howard's personal interest in helping close the wealth gap prompted her to steer Ally Financial toward a more concerted effort on this front. ... Read full article

Get ready to meet 15 women — ages 40 and under — whose accomplishments and influence set them apart. ... Read full article

Larger institutions in particular have made banking so convenient that customers see little reason to move their accounts, according to a new report from J.D. Power. ... Read full article