News Topic: Consumer banking

Events like the recent government shutdown present opportunities for banks to help customers when they need it most. ... Read full article

American National Bankshares is trying to force the proposed American Bank & Trust to change its name. ... Read full article

With U.S. sanctions in place against Venezuela, banks fear compliance violations; exclusion and cyber attacks the biggest concerns of cash-free society. ... Read full article

The CEO of the nation's biggest bank gave the fintech props for revolutionizing payments and then building off its success to provide a whole range of services to small-business clients. ... Read full article

The drudgery of filling out forms and changing bills prevents many customers from swapping banks. One fintech has simplified that exchange, and banks are willing to pay it to deliver them new customers. ... Read full article

The foray into digital consumer lending follows a similar move by rival Citigroup. ... Read full article

Midwest BankCentre in St. Louis, with the help of a stable of fintechs, started Rising Bank to keep up with big banks in the hunt for deposits and millennial customers. ... Read full article

ComplyAdvantage, Cinnamon and Zoovu recently raised millions of dollars to fuel expansion of their automated risk management, data-scanning and customer service products geared toward financial services companies. ... Read full article

Fifth Third is helping consumers — and millennials in particular — save for big-ticket purchases with a new tool that squirrels away small sums into an account that can’t be immediately accessed. ... Read full article

Will Howle, head of U.S. retail and mortgage banking, and Alice Milligan, chief digital experience officer, will leave this spring. ... Read full article

Personal loan balances hit an all-time high in 2018, while fintech lenders widened their market share lead over banks and credit unions, according to new data from TransUnion. ... Read full article

The results suggest that consumers who buy Green Dot cards are using them with greater frequency or for longer periods of time than they have in the past. ... Read full article

The agency’s effort is a good first step to updating brokered deposit rules, but regulators excluded several important considerations in their advance notice of proposed rulemaking. ... Read full article

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena ... Read full article

OceanFirst in New Jersey shuttered more than a third of its branches but says nearly all the customers stuck with the bank because it trained employees to show customers how to go digital. ... Read full article

The moves are aimed at beefing up consumer lending and attracting deposits in markets where Citi has no branch presence. ... Read full article

Regulators should clarify rules around deposit-advance products so that banks can serve consumers seeking short-term loans, like those affected by the recent partial closing of the government. ... Read full article

SunTrust’s merger with BB&T is the largest bank deal since the financial crisis, and mortgages will play a critical role in the execution of this transaction. ... Read full article