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

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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.

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ATM cryptocurrency Mobile 124

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.

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Cards Groups 243

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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.

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Strategy Lending Payments 148

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

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).

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America Lending Community 130

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.

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Customer Experience North Carolina Charlotte How To 106

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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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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.

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Policies Management Groups 111

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.

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Cards Marketing Industry Report 397

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.

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Cards 78

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.

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Industry Management Lending 78

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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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BankBazaar

MAY 9, 2023

Meet Tanveer, a travel enthusiast who loves to explore new places and cultures. He has also been instrumental in helping the company explore new avenues with his contribution to shaping the web content and social media teams at BankBazaar. He pleasantly recalls when he was first approached by the recruitment manager, for the role of a content writer.

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social media US Meeting Management 78

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

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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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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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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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.

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Massachusetts Boston Policies Technology 88

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

CFPB Monitor

MAY 11, 2023

The Consumer Financial Protection Bureau (“CFPB”) recently issued advisory guidance on the enforcement of time-barred mortgage loans. A time-barred mortgage loan is one where the statute of limitations has expired. The statute of limitations for mortgage loans are typically created by state law, and vary by jurisdiction. In some cases, they create an affirmative defense for the consumer that prohibits a debt collector from suing to collect the debt. .

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The Paypers

MAY 11, 2023

US-based financial service company Rapid Finance has integrated with Mambu ’s cloud-based lending platform to offer Lending-as-a-Servive to financial institutions in the US.

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Lending US Company 68

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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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 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.

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Miami US Marketing Payments 273

CFPB Monitor

MAY 10, 2023

Auriemma Roundtables, a leading provider of business intelligence solutions to the consumer finance industry, together with First National Bank of Omaha and a group of several other premier consumer financial services firms, has filed a comment (the “Auriemma Roundtables Comment”) on the credit card penalty fees proposal (the “Proposed Rule”) issued by the Consumer Financial Protection Bureau (CFPB). .

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Omaha Cards National Groups 78

The Paypers

MAY 12, 2023

Mastercard has partnered with Maldives Transport and Contracting Company (MTCC) and Bank of Maldives (BML) to launch an open loop transit payment and digital ticketing system.

Payments 68

Payments System Company 68

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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se

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