Engage Differently: Marketing Digital Tools in a Time of Crisis
The ongoing digital shift in banking will provide more opportunities to unlock better customer experiences.
Browsing: Payments
CFPB: About 6% of Mortgage Borrowers Receiving Coronavirus Relief
Around 6% of outstanding first-lien mortgages in June 2020 were reporting zero payment due based on credit bureau data, up from essentially none in February—thus indicating some kind of coronavirus-related payment relief, the Consumer Financial Protection Bureau said in a report today.
CFPB Launches Latest CARD Act Review; Seeks Feedback on Regulations
The Consumer Financial Protection Bureau is beginning its biennial review of the consumer credit card market, as mandated by the Credit CARD Act. The next report is due in 2021.
J.D. Power: Consumer Satisfaction with Credit Cards Holds Steady
Gains in satisfaction from before the coronavirus pandemic boosted overall consumer satisfaction with credit card issuers in 2020, according to the J.D. Power 2020 Credit Card Satisfaction Study released today.
How U.S. Banks Can Start Planning to Deliver Crypto Custody Services
Will the OCC’s clarification that U.S. banks can hold a cryptocurrency’s unique cryptographic keys turn out to be the onramp into a new revenue stream?
Survey: Businesses Prioritize Real-Time Payments Access
In a new survey from Providence, Rhode Island-based Citizens Financial Group, business leaders said that a bank’s ability to provide access to real-time payment and settlement services was the second-most-important factor when choosing a banking partner, after a bank’s ability to provide solutions throughout the business life cycle.
P2P Payments, Card-Not-Present Drive 2019 Growth in Debit Transactions
Even before consumers’ acceleration to online shopping due to the pandemic, card-not-present debit transactions rose 21% year-on-year in 2019, according to Pulse’s debit issuer survey released today.
Fed Announces Details of FedNow Service
The Federal Reserve today released more details about its forthcoming FedNow service to provide real-time payments settlement and clearing, including phased elements of the FedNow service.
Report: Credit Card Use Dips in Q1 Amid COVID-19 Uncertainty
As the coronavirus outbreak spread in the U.S. in the first quarter, credit card purchase volume and debt outstanding declined, according to ABA’s latest Credit Card Market Monitor released today.
State Associations: Include E-Sign Modernization Bill in COVID Relief Package
As Senate leaders continue to negotiate provisions in the latest round of legislative coronavirus relief, the 51 state bankers associations today urged them to include S. 4159, the E-Sign Modernization Act, in the package.