American Banker

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American Banker

 •  February 23

BB&T is the latest bank to be hit by widespread outages to ATMs and digital platforms due to technical problems. As of Friday afternoon, BB&T’s online and mobile banking were unavailable to consumers, according to a spokesman for the Winston-Salem, N.C., company. BB&T’s ATMs and automated telephone services had also experienced outages, but both...

American Banker

 •  February 22

In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust. Experts suggest that Early Warning, which operates Zelle, needs to sharpen its...

American Banker

 •  February 22

U.S. Bank is partnering with the startup AutoGravity to offer customers the ability to digitally apply for an automobile loan and receive a decision in minutes. The Minneapolis-based bank created a new platform in conjunction with the fintech on its website, USBank.com, designed to offer its customers a simplified, streamlined loan application and...

American Banker

 •  February 22

For the second time in two weeks, Wells Fargo finds itself at the center of social media fury after customers reported being locked out of their accounts. Some Wells Fargo customers on social media Thursday afternoon expressed frustration with not being able to log in to accounts digitally. The San Francisco bank responded in a tweet acknowledging...

American Banker

 •  February 21

In a turnaround from a year earlier, strong revenue growth in the fourth quarter enabled Green Dot to record net income of $12.2 million. The prepaid card issuer reported operating revenues of $213 million, up 31% from the same period a year earlier. The fourth quarter of 2016 was part of a tough stretch for Green Dot, which took a hit from its...

American Banker

 •  February 20

If Congress won’t ban assault weapons, banks should do so on their own. That was the argument made by the New York Times’ Andrew Ross Sorkin, who suggested credit card companies, processors and big banks including JPMorgan Chase and Citigroup, should “effectively set new rules for the sales of guns in America.” Sorkin’s aim would be for banks to...

American Banker

 •  February 20

WASHINGTON — The alleged use of fraudulent financial accounts by Russian internet trolls, who authorities say were trying to tip the 2016 election, reveals yet another fault line in banks' efforts to truly "know" their customers. The indictments announced Friday in the Russia special counsel's investigation illustrate how banks can be exploited by...

American Banker

 •  February 16

Since launching a so-called regulatory “sandbox” in 2016, the U.K.’s Financial Conduct Authority has won accolades from banking officials around the world for providing a safe space for fintech firms to test out products without the threat of punishment if those products break any rules. Now the U.K. regulator is seeking input on whether it should...

American Banker

 •  February 16

Two years ago, dozens of U.S. banks, including Citigroup, JPMorgan Chase and Bank of America, began working on a secret, ultrasecure data bunker called Sheltered Harbor that would hold a copy of all bank transaction data in the event of a devastating cyberattack. But the banks and industry groups behind Sheltered Harbor have recently changed the...

American Banker

 •  February 16

The newest class of startups to join Silicon Valley Bank’s fintech accelerator are focused on student loan repayment assistance as an employee perk and easing businesses’ and consumers’ payment pain points. The five startups that make up the seventh class of Commerce.Innovated are FutureFuel, Roger, Teampay, Waypay and Candex. Over the next four...