Consumer banking

Wells Fargo consumer chief may testify of 'fear' her predecessor inspired

08/17/20

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 much as $25 million.

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Have banks, fintechs compete to bring banking services to post offices

08/14/20

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

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Older adults needed help banking online. Scotiabank found a solution.

08/14/20

The Canadian bank is doing something few U.S. institutions have done: build an online hub with tutorials designed expressly to simplify the online banking process for newcomers.

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Wells Fargo chief compliance officer is leaving: Report

08/13/20

The executive shuffle at the company continues as Chief Compliance Officer Mike Roemer quits and Credit Suisse America’s Paula Dominick is hired, according to a Financial Times report.

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Truist’s pandemic chatbot could have staying power

08/12/20

Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could schedule appointments, answer questions about new digital products or help with emergencies.

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Brokered deposit law is woefully outdated

08/07/20

As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.

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There's no replacing the human touch of branch banking

08/06/20

The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong.

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Government stimulus spending boosts Green Dot’s earnings

08/05/20

The prepaid card company benefited during the second quarter from payments that were designed to offset the pandemic’s impact on U.S. consumers.

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Banks, fintechs must reframe data privacy debate

08/04/20

Financial firms could lose access to data that’s critical to their businesses if Congress passes a privacy bill. To change lawmakers’ minds, they need to show how data in the right hands has the power to improve customers’ lives.

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Google checking accounts: Why banks want in

08/03/20

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

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