ABA: Foundation Releases Inaugural Survey Detailing Bank Efforts to Serve and Protect Seniors
In recognition of Family Caregivers Month, the ABA Foundation released its inaugural Older Americans Benchmarking Report, an unprecedented survey detailing how banks across the country are working with seniors and their financial caregivers to address the growing threat of elder financial fraud. To produce the report, the ABA Foundation surveyed 103 banks of all sizes…
ABA Report: Credit Card Market Expands in Second Quarter, Mirroring Economic Growth
Credit card use continued to expand in the second quarter, according to the American Bankers Association’s latest Credit Card Market Monitor. Monthly purchase volumes rebounded after a seasonal decline in the first quarter, rising by 9 percent across risk tiers. On an annual basis, purchase volumes rose 4.9 percent for prime accounts and 5.2 percent…
CFPB: Principles Outlined for Consumer-Authorized Financial Data Sharing and Aggregation
The Consumer Financial Protection Bureau (CFPB) today outlined principles for protecting consumers when they authorize third party companies to access their financial data to provide certain financial products and services. These principles are intended to help foster the development of innovative financial products and services, increase competition in financial markets, and empower consumers to take…
ABA: Bankers Celebrate Get Smart about Credit Day, Promote Financial Literacy
Bankers visit classrooms across the country on Oct. 19 to teach credit education Bankers across the country are celebrating the American Bankers Association Foundation’s Get Smart About Credit Day on Oct. 19 by visiting high school classrooms to teach teens how to use credit effectively. Get Smart About Credit Day, celebrated annually on the third…
OCC: Updated List of Permissible Activities for National Banks and Federal Savings Associations Released
The Office of the Comptroller of the Currency (OCC) today released an updated list of permissible activities for national banks and federal savings associations. The publication titled, Activities Permissible for National Banks and Federal Savings Associations, Cumulative, updates the list of permissible activities to reflect applicable precedent for national banks, streamlines certain entries for readability,…
FDIC: 7th Annual Consumer Research Symposium Held in Arlington, Virginia on October 13th
The Federal Deposit Insurance Corporation (FDIC) will sponsor the 7th Annual Consumer Research Symposium on October 13, 2017. The conference will feature welcoming remarks by FDIC Chairman Martin J. Gruenberg, presentations of selected research papers, and a Keynote Address by Dr. Christopher Herbert, Managing Director of the Joint Center for Housing Studies of Harvard University….
ABA: Survey Shows Americans Trust Banks Most to Keep Their Payments Safe
25 percent of consumers have used mobile app to make a payment WASHINGTON —Nearly 6 in 10 Americans —59 percent— trust banks most to keep their payments safe, according to a new survey conducted by Morning Consult for the American Bankers Association. Only 12 percent of consumers trust alternative payment providers, such as Apple, PayPal…
OCC: Acting Comptroller Of The Currency Rescinds Deposit Advance Guidance
Acting Comptroller of the Currency Keith A. Noreika today approved rescission of the agency’s Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products that was published in the Federal Register on November 26, 2013, and accompanying OCC Bulletin 2013-40. In doing so, he issued the following statement: Today, I approved rescission of the OCC’s…
CFPB: Interim Final Rule Issued To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure
Bureau Also Seeks Comment on Separate Proposed Rule Modifying Timing Requirements for Bankruptcy Periodic Statements The Consumer Financial Protection Bureau (CFPB) today issued an interim final rule and a proposed rule to provide mortgage servicers more flexibility and certainty around requirements to communicate with certain borrowers under the Bureau’s 2016 mortgage servicing amendments. The interim…
FDIC: 2017 Results of Summary of Deposits Survey Released
The Federal Deposit Insurance Corporation (FDIC) today released the results of its annual survey of branch office deposits for all FDIC-insured institutions. The latest data are as of June 30, 2017. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 89,000 domestic offices operated by more than 5,700 FDIC-insured…