BankThink
From transaction to transaction, it is impossible for merchants accepting major credit cards to know with certainty what interchange fees they are being charged. Until that's fixed, the interchange wars will continue.
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New app-based programs resemble payday loans, often trapping users in a pattern of fee-based transactions while demanding "tips" that cost some consumers hundreds of dollars per year.
March 25
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Banks are a critical link in the chain of elder fraud; blockchain is exciting and infrastructure is boring, but they're actually the same thing; and there are way more home sellers than buyers.
March 24
American Banker -
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In a digital world, paper checks are an expensive, inefficient and unsecured vestige of the past. Bankers, regulators and policymakers need to come together around a strategy to eliminate their role in the U.S. financial system.
March 24
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Two credit unions in San Diego are locked in a bitter fight over a proposed merger; and a community bank in upstate New York fights off a corporate raider.
March 23American Banker
Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
Peter Chapman, chief technology officer at Grasshopper Bank, initially saw AI as "the best intern that you could ever have." Today the technology is taking on more advanced work at the bank.
A new report from the Consumer Federation of America says the true cost of online scams is an estimated $119 billion per year; Associated Banc-Corp moves forward with its planned acquisition of family owned American National; Servbank HoldCo completes its acquisition of IF Bancorp; and more in this week's banking news roundup.
BankThink is American Banker's platform for informed opinion about the ideas, trends and events reshaping financial services. View our