From fees to close accounts and transfer funds to so-called zombie accounts, some banks are making it harder for consumers to leave.
BALTIMORE — Call this the loud message out of NACHA 2012: Financial institutions can choose to innovate. Or to die. And the pressures are higher on community banks and credit unions for a painful reason.
Wake up and smell the hack. “Mobile banking, I would argue, presently, is significantly more secure than is online banking,” said Kevin Travis, a partner with Novantas, a New York-based management consulting firm.
What’s your wallet made of – leather, or bits and bytes? At CUNA’s recent Government Affairs Conference held in Washington that was a key question raised among those close to the evolution of payment transactions.
Robert Allen, CEO of the 218,000-member, $4 billion Teachers Federal Credit Union, joined executives from Citibank, Bank of America and other banks to tell the Consumer Financial Protection Bureau how his CU and CUs in general handle checking accounts and overdraft protections.
Robert Allen, CEO of the 218,000 member, $4 billion Teachers Federal Credit Union, joined executives from Citibank, Bank of America and other banks.
The Prime Performance 2011 California bank and credit union survey has ranked The Golden 1 Credit Union the top financial institution in several categories, including overall customer experience. The survey distinguishes Golden 1 as a top performer in customer service and satisfaction.
Rep. Elijah Cummings (D-Md.) asks Rep. Darrell Issa (R-Calif.) to subpoena mortgage lenders and investigate alleged foreclosure abuses.
While it may not be much of a surprise to credit unions that some banks are not eager to approve funding for small businesses these days, the rate of rejections might cause some alarm.
Report author says the "big banks are sitting on their assets."