When COVID-19 accelerated customer movement into mobile and online banking solutions, and triggered consumers to push their funds into bank accounts, banks that had made investments in the digital customer experience were positioned to capitalize.
The FDIC’s recent proposal to make changes to the national rate cap does not go far enough to address the problems with the current calculation methodology, ABA said in a comment letter today.
The FDIC today proposed a new methodology for calculating the national rate and the national rate cap for specific deposit products.
A Marketing Money Podcast
By Kate Young
A Marketing Money Podcast
By Mark Gibson
A Marketing Money Podcast