South State Correspondent

MAY 9, 2023

Last week ( HERE ), we looked at how deposit account tiering is used, some of the objectives that banks might employ, and the effectiveness of tiering in total. As discussed last week, many banks tier without objective, without data, and without supportive marketing, thus rendering the methodology worthless and possibly hurtful. We challenged several commonly held assumptions and presented data that would indicate that tiering accounts just by account balance may not be all that it is cracked up

Data 195

Data Training National System 195

ATM Marketplace

MAY 9, 2023

Walgreens has deployed more than 1,300 ATMs that not only accept cash but also provide cryptocurrency purchasing/selling and mobile send/receive cash capabilities.

ATM 125

ATM cryptocurrency Mobile 125

South State Correspondent

MAY 9, 2023

In the wake of regional bank failures, one potential answer to equity shorting and bank runs is having the FDIC increase deposit insurance. The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. Increasing insurance coverage on bank deposits will have unintended consequences and results contrary to what those in the banking industry want and what the U.S. e

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FDIC Regulation Capital Management 195

Payments Dive

MAY 9, 2023

A group of lawmakers asked the CEOs of large credit card issuers to explain their late fee practices.

Cards 243

Cards Groups 243

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American Banker

MAY 8, 2023

Payments 100

Payments 100

SWBC's LenderHub

MAY 11, 2023

Times may be tough financially, but that does not mean consumers are skimping on necessities or sacrificing luxuries to get by. Many are leveraging a popular lending concept that facilitates short-term split payment options to finance their purchases.

Strategy 148

Strategy Lending Payments 148

Payments Dive

MAY 8, 2023

The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.

Cards 397

Cards Marketing Industry Report 397

CFPB Monitor

MAY 10, 2023

The CFPB has filed its brief with the U.S. Supreme Court seeking reversal of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Payday Rule).

America 130

America Lending Community 130

TheGuardian

MAY 7, 2023

Exclusive: HSBC and NatWest staffers seconded to shadow business secretary Jonathan Reynolds’s team Labour has been criticised for giving global banks access to parliament after taking an HSBC staffer into its shadow business team, despite the financial giant coming under fire over its links with China. One senior policy manager from HSBC has been seconded to the team of Jonathan Reynolds, the shadow business secretary, and has been given a parliamentary pass since February.

Policies 111

Policies Management Groups 111

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Analysis

ATM Marketplace

MAY 12, 2023

One of the biggest challenges for any business is how do to understand its customers and how to act on that knowledge. The keynote address for the Bank Customer Experience Summit, held from Sept. 12 to 13 in Charlotte, North Carolina, will address this question.

Customer Experience 107

Customer Experience North Carolina Charlotte How To 107

Payments Dive

MAY 11, 2023

This is the second convenience store chain to install the palm-scanning technology, which is also being used in sports arenas and Amazon’s own brick-and-mortar retail locations.

Retail 370

Retail Technology 370

American Banker

MAY 12, 2023

Technology 99

Technology Fintech 99

Commercial Lending USA

MAY 8, 2023

Need funding for your business with no revenue? Learn about the best options for no revenue business loans and how to qualify on our blog.

How To 97

How To Lending 97

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Lending

TheGuardian

MAY 6, 2023

Higher rates slow the renewable energy transition and shield oil and gas producers from competition by low-carbon producers In late 2021, consumer price inflation surged in many countries. Prices shot up again following Russia’s invasion of Ukraine in February 2022. In response, central banks drastically tightened monetary policy – raising interest rates from near zero to around 5% or more.

Massachusetts 92

Massachusetts Boston Policies Technology 92

Payments Dive

MAY 10, 2023

The card-issuing fintech plans to dismiss about 150 employees in an effort to become profitable. It aims to reduce annual costs by as much as $45 million.

Fintech 345

Fintech Cards 345

American Banker

MAY 8, 2023

Community Bank 97

Community Bank Policies Community Compliance 97

The Paypers

MAY 12, 2023

BlueCart , an end-to-end wholesale order management platform, has launched BlueCart Pay.

Management 80

Management 80

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Operations

TheGuardian

MAY 8, 2023

Skipton building society aims product at renters who cannot save enough for a deposit A leading lender plans to launch a 100% mortgage aimed at would-be first-time buyers who cannot save for a deposit, the first since the 2008 financial crisis. Standard home loans where the borrower does not have to put down a deposit used to be fairly commonplace but the last was axed in the wake of the financial crisis.

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Payments Dive

MAY 11, 2023

The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.

Company 312

Company 312

American Banker

MAY 10, 2023

Washington 93

Washington Policies 93

CFPB Monitor

MAY 12, 2023

The Consumer Financial Protection Bureau (“CFPB”) received more than 225 public comments to its credit card late fee proposal (the “Proposed Rule”). As we have discussed , the Proposed Rule would make significant changes to the current rules for credit card late fees, including substantially reducing the safe harbor late fee amounts that card issuers can charge and eliminating annual inflation adjustments.

Cards 78

Cards 78

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Analysis

SWBC's LenderHub

MAY 11, 2023

In Fannie Mae’s March Selling Guide Announcement , the government-sponsored enterprise introduced updated guidance to lenders and mortgage industry professionals aimed at modernizing the valuation process. According to the announcement, “Valuation modernization helps lenders, appraisers, and risk investors manage collateral risk more effectively, while also benefiting consumers via greater appraisal accuracy, lower costs, and increased speed of loan decisions.

Industry 78

Industry Management Lending 78

Payments Dive

MAY 12, 2023

From a new U.S. headquarters in Miami, the British cross-border payments company is pitching services to U.S. businesses and consumers.

Miami 273

Miami US Marketing Payments 273

American Banker

MAY 11, 2023

Trends 91

Trends Cards Lending 91

CFPB Monitor

MAY 11, 2023

The CFPB has issued a circular that addresses the reopening of closed deposit accounts (Circular 2023-02). Specifically, the circular warns that it can constitute an unfair act or practice for a financial institution to unilaterally reopen closed accounts to process debits or deposits. By way of background, the CFPB describes a scenario in which, after a consumer has completed all of the steps required by the financial institution to close a deposit account and the financial institution has clo

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