Browsing: Payments

Newsbytes

Three types of aggregate fee revenues—maintenance fees, ATM fees and overdraft fees—all declined in 2020, with overdraft fees seeing the greatest decline at 26.2%, according to data released by the CFPB today. In the years between 2015 and 2019, overdraft fees were increasing modestly year-over-year—about 1.7% annually, the bureau found. 

Newsbytes

The Federal Reserve System’s 2022 fee schedules for priced services that go into effect Jan. 3 are expected to be 3.7% higher on average than in 2021, and the system projects that it will recover 97.1% of its priced services costs.

Newsbytes

Ninety-nine percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience as “good,” “very good” or “excellent,” matching last year’s record, and 81% agreed that technological improvements by banks are making it easier for all Americans to access their financial services.

Newsbytes

The federal banking agencies “plan to issue a series of policy statements in the coming months” addressing “how existing rules and policies apply to crypto assets, what types of activities are permissible for banks to engage in and what supervisory expectations we have for banks that do engage in such activities,” FDIC Chairman Jelena McWilliams said in remarks at an industry event today.

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