How Wells Fargo is creating ‘fans for life’
Michelle Moore, head of consumer digital at Wells Fargo, uses three principles to try to create user interfaces customers will come back to.
McHenry advances Fincen beneficial ownership rule complaints with bills
House Financial Services Committee Chair Patrick McHenry, R-N.C., said that two new bills would make the Financial Crimes Enforcement Network more accountable to the public as it moves toward implementing its beneficial ownership reporting requirement rule.
How Maria Gotsch turned New York into a fintech hub
Gotsch is one of American Banker’s Most Influential Women in Fintech.
Five Star Bancorp aims to capitalize on San Francisco market turmoil
The Roseville, California institution is expanding into the Bay Area in hopes that it can land new clients and lenders in the wake of two large regional failures there this year.
Credit — not cash — for gold? A secured card tackles pawn loans
Pesto, a San Francisco-based startup, invites consumers to ship their diamonds, gold and valuable jewelry to be appraised as assets backing a secured Mastercard. The firm has raised $11 million — and the eyebrows of some consumer advocates.
Life insurers pull back from commercial mortgage purchases by over 60%
New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.
First Tech Federal Credit Union rewrites its rules for foster youths
Young people aging out of foster care don’t often have the documents or relationships necessary to open an account. First Tech is making changes to address this all-too-common issue.
Wavering on FedNow adoption? Take a lesson from Brazil’s Pix
Banks that haven’t built a plan to implement the Federal Reserve’s new real-time payments system still have time to make up lost ground.
Synchrony lays out plan to recoup late fees lost under CFPB proposal
The credit card company says it could raise interest rates, charge new fees and implement penalty-based pricing if late fees get capped at $8. But its ability to maneuver is constrained by a 14-year-old federal law.
CFPB to propose open banking regulation in coming months, finalize in 2024
Consumer Financial Protection Bureau Director Rohit Chopra warned that “powerful firms” must not dominate the new open banking landscape.