'Fintech Charter' Has No Early Takers as Lawsuit Looms
Six weeks after the Office of the Comptroller of the Currency (OCC) opened its door to formal applications, the "fintech charter" has been slow to elicit many takers. According to the Wall Street Journal, this is due to "uncertainty about what activities [it] will allow, what regularly requirements it will carry, and whether it will hold up in court." With different state and federal regulatory bodies involved, this topic is likely to be the subject of both legal action and significant debate.
Bankshot: Banks are running out of time to regain public trust
Banks have revamped many of their operations over the last decade, and they’ve spent billions of dollars complying with a host of new rules. But if they can’t figure out a way to win back more of the public’s trust, all that work could be for nothing.
Read the story by Victoria Finkle in American Banker(Sept. 14)
Why USAA is The Most Beloved Financial Brand on Earth
Research reveals what drives brand loyalty at USAA, and why they consistently rank atop one satisfaction study after another.
Bank branches and staff numbers continue to shrink across the EU
The trend for mobile and online banking continues to take its toll on physical bank branches and staff numbers, with new figures from the European Banking Federation showing an ongoing decline
Read the story in Finextra(Sept. 11)
Is your money-management app safe? Here's why people are concerned about their privacy
In the past year, it’s a deal about one-third of us made: We handed over our bank data to a fintech app in exchange for it to help us quickly manage our money or provide some other benefit. However, it turns out we have some concerns about the very thing we’ve been doing to save us time and money, new research shows.