A simple story about a simple check shows how much even routine customer-facing policies can matter.
Browsing: Checking accounts
Check fraud is big problem that’s getting worse, American Bankers Association SVP Paul Benda told CNBC for a recent news segment on the crime.
Innovations in account registration have given fraudsters just as much convenience as customers. Although check use is not as common in the digital age, fraudsters utilize checks as a convenient medium to exploit banks and their customers.
As more of our lives continue to shift to digitally based providers, direct banks are in a position to gain market share and mindshare by delivering around-the-clock access and products with attractive fee structures and interest rates.
Digging into the data showing that the market for deposits is highly competitive.
Among the ways banks can respond to today’s quickly changing criminal activity is by incorporating flexible fraud-detection controls that allow them to create or adjust rules on the fly.
The OCC identified principles for banks to implement what it calls “responsible overdraft programs that benefit financially vulnerable consumers,” while continuing to encourage banks to offer other options for short-term, small-dollar credit, Acting Comptroller of the Currency Michael Hsu said in a speech today.
ABA Foundation Highlights Strategies for Expanding Financial Inclusion to Persons with Criminal Records
Banks are employing a number of successful strategies to help promote financial inclusion among individuals with criminal records, the American Bankers Association Foundation noted today in a new white paper.
Community partnerships, word of mouth help market an important financial inclusion initiative.
The Bank On movement for financial inclusion continues to accelerate. In July, the Cities for…