Since October 2020, almost 7,000 people have reported losing money from cryptocurrency investment scams, the Federal Trade Commission said today—12 times the number of reports from the same period last year.
According to a survey by the AARP, 85% of adults over the age of 50 owned a smartphone in 2020, up from 79% in 2019. Making a purchase, financial transactions, and comparison shopping made the top 10 list of activities cited by older Americans.
The FDIC in the coming days will issue a request for information to seek additional information on how banks are using or planning to use digital assets, and “what, if anything, the FDIC should be doing in this space,” FDIC Chairman Jelena McWilliams said in remarks during an industry event yesterday.
Email, spreadsheets and manual searches slow down the loan process.
The Clearing House, Jack Henry, FIS and Fiserv announced today that they will cover the cost for minority-owned depository institutions to join the RTP network.
People trust people, and banks that have individual employees actively using social media on behalf of the bank’s brand are seeing results.
Continual self-assessment can be a key tool to identifying areas to improve.
American Bankers Association President and CEO Rob Nichols today said that the rapid convergence of banking and technology is important and benefits consumers, but emphasized that “there should be some degree of levelness as it pertains to supervision and consumer protection,” for new market entrants offering bank-like services.
The OCC today granted conditional approval for a national trust bank charter to New York-based Paxos National Trust.
The pandemic encouraged more people to consider opening a bank account online, according to a new FICO survey released today.