‘We’ll bounce back’: Vermont bankers respond to flood crisis
Storms earlier this month crippled local communities in the Green Mountain State. Banks, which have had to close branches or open alternative ones, are offering flexible loan repayment options and working with municipalities to finance the rebuilding of infrastructure.
BlackRock sees ‘huge opportunity’ in cast-off banking assets
Concluding the industry faces years of upheaval, BlackRock is poised to become a bigger buyer of assets that banks unload to improve their capital and liquidity.
OCC fines American Express $15 million for third-party noncompliance
The Office of the Comptroller of the Currency levied the civil money penalty against American Express National Bank for failing to implement adequate call-monitoring controls and track customer complaints with a third-party affiliate.
The arguments over the CFPB’s late-fee rule were settled a decade ago
Evidence from the implementation of the 2009 CARD Act shows that warnings about higher interest rates and other unintended consequences don’t square with reality.
Checkout.com tasks AI with cutting false declines as payments speed up
As banks and merchants gear up for instant settlement, the merchant acquirer is using artificial intelligence to sharpen the accuracy of its fraud detection.
Startup targets banks with AI-powered deal-monetization
Bank loyalty platform provider Wildfire Systems unveils a tool that could enable banks to earn revenue from merchants when customers click on personalized offers embedded in content via generative AI.
Banks lean into credit card growth, pointing to resilient U.S. consumers
Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.
Bankers question regulatory crackdown on NSF fees
Bankers say it isn’t a crazy notion for a bank to charge multiple NSF fees on the same transaction because merchants often resubmit transactions for payment a second time, and the bank has no way of knowing if or when that happens.
Oconee Federal, Mutual Savings Bank in South Carolina to merge
The deal is expected to close late in 2023 or early next year and be immediately accretive to the combined company’s earnings.
How a Texas credit union leader drove auto lending during the pandemic
Valarie Ivester, assistant vice president of indirect strategy and development for Greater Texas Credit Union, has helped update strategy from the start of the pandemic through the recent chip shortage.