By Rob Morgan illennials are not disenchanted with banks, they just are not ready for the products that brought previous generations into the banking system. Millennials have had a rough financial start. More millennials are going to college than any previous generation. Although this is good, many are taking on debt to do so. In
Millennials are important for banks’ futures– but not because they’re millennials.
The Consumer Financial Protection Bureau is expected to propose a rule allowing it to supervise online marketplace lenders, according to a Wall Street Journal article today.
Visa today announced the launch of Quick Chip for EMV, a technology enhancement designed to speed up EMV card authorizations to two seconds or less and allow shoppers to dip and withdraw their cards instantly — just as they do with magstripe cards.
A year after the sunrise period began for .bank registrations, banks that have made the migration are seeing the benefits.
Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio), joined by Sens. Jeff Merkley (D-Ore.) and Jeanne Shaheen (D-N.H.) today called on the Government Accountability Office to conduct a new study of the fast-growing nonbank financial technology sector.
Members of the Federal Reserve’s Community Depository Institutions Advisory Council — which includes several ABA member bank CEOs — raised concerns over the difficult regulatory landscape facing community banks in a recent meeting, according to minutes released by the Fed.
With recent data suggesting that more than forty percent of millennials are “chronically stressed” about money, ABA today issued a press release with tips to help millennials use tools they already access to secure a strong financial footing.