Nearly 8 in 10 U.S. households surveyed in late 2021 said they were “doing OK” or “living comfortably,” according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
The Consumer Financial Protection Bureau issued a blog post today that criticized banks that charge nonsufficient funds fees.
The American Bankers Association and all 51 state bankers associations directly challenged the CFPB on a recent request for information regarding fees associated with financial products and services offered by banks and non-bank financial institutions, including overdraft fees, insufficient funds fees, credit card fees, remittance fees, prepaid account fees and mortgage fees, among others.
As customers increasingly face tough economic challenges, retail banks’ ability to offer support plays a critical role in satisfaction, according to J.D. Power’s annual retail banking satisfaction survey.
The American Bankers Association last week called on the CFPB to monitor the rapidly expanding “buy now, pay later” marketplace and ensure that BNPL providers that do not choose to partner with regulated financial institutions are subject to appropriate consumer protection standards.
A recent report issued by the Government Accountability Office found that some banking regulators lack “outcome-oriented measures” in assessments of their efforts to increase banking access to unbanked and underbanked consumers.
Banks get deliberate about multicultural markets as a path to financial inclusion—and growth.
The FDIC today expanded its public awareness campaign about the benefits of opening a bank account. The campaign now targets the Los Angeles, Dallas and Detroit metro areas, following last year’s campaign launch in the Atlanta and Houston areas.
Community banks are keeping bank branches open, with 84% responding to a recent survey that they have not closed a single branch in the past 12 months.
Capital One received the highest customer satisfaction rating for the second year in a row among eight nationwide banks, scoring 692 out of 1,000 (up from 688 in 2020), according to a new J.D. Power study released today.