High-cost bank loans a step in the wrong direction
Banks are being encouraged to offer smaller loans as an alternative to payday products, but their high interest rates can still put consumers in debt. ... Read full article
Banks are being encouraged to offer smaller loans as an alternative to payday products, but their high interest rates can still put consumers in debt. ... Read full article
The bank seeks to answer the threat posed by disruptors with quick online loans and a card that rewards small businesses for more kinds of spending. ... Read full article
The mass retirement of baby boomers and the growing affluence of women are the biggest disruptive forces in the industry, says Gunjan Kedia. Here's how she's dealing with them. ... Read full article
In five years, Moy has built from scratch a thriving business unit that is focused solely on developing easy-to-use, customer-facing technology for U.S. Bancorp's wealth management clients. ... Read full article
A new, 10-part podcast series examining housing blight; JPMorgan’s Jamie Dimon baits President Trump; U.S. Bank returns to small-dollar lending; and more from this week’s most-read stories. ... Read full article
The Minneapolis bank is betting that it has the heft — and the brand recognition — to compete for deposits in states where its biggest rivals already dominate. ... Read full article
U.S. Bank’s announcement that it will begin offering small installment loans could open the door for other financial institutions to offer them as an alternative to pricey payday loans. ... Read full article
The Minneapolis company plans to expand to new retail markets through a digital platform, but it’s facing questions about how it will distinguish itself from peers. ... Read full article
The Minnesota company's profits rose by double digits despite some challenges in the second quarter, and its CEO says it will be expanding its digital offerings to simplify banking for customers. ... Read full article
Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents. ... Read full article
There are signs that commercial loan demand finally picked up in the second quarter, but banks still face some obstacles. ... Read full article
The rents are steep and they don't generate much revenue, but some banks believe that airport branches still have a role to play in their retail strategies — particularly as advice centers. ... Read full article
The graduates of this year's Fintech Innovation Lab New York, chosen by executives at 43 banks, are focusing on improving artificial intelligence, solving IT issues and providing a better customer experience. ... Read full article
The Minneapolis bank is pitching the automated investment advice product, a joint venture with a BlackRock unit, to a wide range of age groups, not just younger consumers. ... Read full article
From the opportunities — and threats — in artificial intelligence to envisioning a world in which "Wi-Fi is like air," here is what everyone was buzzing about at American Banker's Digital Banking conference. ... Read full article
Banks will need to evolve further and faster to reach consumers in an interconnected, always online world, according to industry leaders. ... Read full article
Most big banks are launching robo-advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers. ... Read full article
Whether they’re thwarting cyber thieves or building out new apps, bank chiefs say hefty tech investments are now a cost of doing business — but they have to convince shareholders. ... Read full article
The numbers are better but still disappointing for such a healthy economy, lamented executives from large U.S. banks. Some are scratching their heads, some are remaining upbeat about the second half of the year, and others are focusing on Plan B. ... Read full article
While industry officials welcomed a bulletin from the Office of the Comptroller of the Currency encouraging banks to develop alternatives to payday loans, they are making no commitments to offer such products. ... Read full article