CFPB: We’ve Issued a New Rule to Help Protect Consumers Using Prepaid Accounts
Prepaid accounts are one of the newer ways to store and spend your money. These include prepaid cards that you buy in stores or digital wallet accounts that you get online. With most prepaid accounts, you can spend the money you’ve loaded in advance for daily expenses or withdraw cash from an ATM. You can also…
CFPB: Project Catalyst Research Pilot – Tools for Saving
Over the past three years the Bureau has launched a series of initiatives focused on empowering consumers with resources and tools to help increase their financial capability and to build savings. These efforts include “Your Money, Your Goals,” a nationwide effort to provide financial education and tools to those working in low-income communities. It also…
CFPB: Project Catalyst Study Finds Savings Offers Double the Number of Consumers Saving
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released the results of a Project Catalyst research project finding that offering a small incentive to prepaid card users to put some of their money into a savings “wallet” doubled uptake of the wallet. The study also found that the consumers who chose to save using…
ABA: Survey – Top Reasons Consumers Plan to Consult Their Bank
WASHINGTON — Car loans, mortgages and saving for college are the top reasons consumers plan to consult their bank over the next year, according to a new survey by the American Bankers Association. Two in five Americans indicated they may contact their bank about these or other important financial decisions within the next 12 months….
ABA: Top Ag Banking Awards Go to Indiana Banker and Kansas Ag Professor
WASHINGTON — The American Bankers Association today announced the recipients of both the Bruning and Blanchfield Awards, the association’s premier awards presented for contributions to agricultural banking. Gene Miles, president and CEO of First Farmers Bank and Trust Company, Converse, Ind., will receive the Bruning Award, and Kansas State University ag economics emeritus professor Barry…
ABA: Six Banks Honored with Community Commitment Awards
Categories range from affordable housing to community and economic development WASHINGTON — The American Bankers Association Foundation has recognized six banks for their noteworthy corporate social responsibility with a 2016 Community Commitment Award. The awards were given to banks for their efforts in categories ranging from affordable housing to community and economic development. Winners will…
ABA: Survey Shows Most Americans Use Mobile Banking at Least Once a Month
Nearly 3 in 4 rank their bank’s app “excellent” or “very good” WASHINGTON — A majority of Americans (58 percent) use a mobile device to manage their bank account at least once per month and more than a third are using it more than three times per month, according to a new survey by the…
Interagency: OCC, FDIC & Federal Reserve Issue Study on Banking Activities and Investments
Agencies Issue Study on Banking Activities and Investments The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today released a report to the Congress and the Financial Stability Oversight Council on the activities and investments that banking entities may engage in under applicable law. Section 620…
ABA: Online, Mobile Banking Most Popular With Consumers
WASHINGTON — More than half of Americans manage their bank accounts online more often than any other method, according to a recent survey by the American Bankers Association. Mobile banking ranked as consumers’ second most preferred way to bank, with about one in five people taking to their mobile devices to conduct their banking business….