British consumers have more complaints about the banking sector across the board than they did a year ago. Complaints about the sector reached their highest level in at least a decade, with all the most complained about products seeing year-over-year increases in cases, the United...
Banks connected to the collapse of Synapse are reportedly close to recovering customers’ frozen funds. These banks have made progress in putting together account information for those customers, which could mean their funds being released within weeks, CNBC reported Thursday (July 11), citing a source briefed on the matter....
Fifth Third Bank says it has introduced tools to make changing financial institutions easier. “Switching banks has historically been stressful — scheduling an appointment at a bank to fill out applications, figuring out HR processes to set up direct deposit for a new account, waiting for money to...
J.P. Morgan Chase is reportedly enhancing its competitive capabilities to remain the biggest bank in the United States. The bank is modernizing its infrastructure and data and using artificial intelligence and payments, Marianne Lake, CEO of consumer and community banking at J.P. Morgan Chase, told...
A European Central Bank board member is warning of threats tied to shadow banking. In an interview with the Financial Times published Wednesday (July 10), Elizabeth McCaul said the growth of hedge funds, private credit providers and other sources of financing outside the regulated banking system is the largest threat to...
Now that the Labour Party’s been ushered into power in the U.K. — in a landslide vote — what’s next for open banking in the United Kingdom? New Prime Minister Keir Starmer has promised an era of “national renewal,” and there are some key tenets...
The arguably natural consequences of fee caps and limits on debit interchange — and the uncertainty of the regulatory climate — are now showing up with an anticipated pullback by banks on traditionally “free” services and products. Amid that pullback, there’s opportunity for neobanks, the...
July 4th is one of the 11 bank holidays observed in the United States. And yet: Though the branches may be closed, the digital channels still are accessible, which means that the bank holiday, which traces its roots to 1870, really is not a total...
There’s a misperception about bankers and banking. That misperception is that money — in all its forms — is the most important asset. The reality is that customers are the most important asset, because if there are no customers there is no money. And financial...
