Proposed law would make it easier to switch banks, but at what cost?

I occasionally cover topics related to the financial services industry because my primary employment serves financial institution clients. There is a proposed bill in Congress right now that caught my attention for several reasons: consumer advocacy, government regulation of the banking industry, and implications in the marketing technology space. A brief recap. The Freedom and Mobility in Consumer Banking Act, Read More …

Rethink rules that prohibit remote deposit

I love my credit union. I’ve been a member for many years and my relationship with them has steadily grown.  I use online banking for money transfer, bill pay, a personal finance manager (PFM), and even an integrated link to Turbo Tax. In return, my credit union gives me competitive rates on loans, better than average interest rates on share Read More …

Customer loyalty through debit card reward programs

Debit cards received significant attention in 2011 after the Durbin amendment in the Dodd-Frank Act set the maximum interchange fee for a single card transaction to 21 cents plus .05% of the purchase charge. Large banks responded by removing debit card rewards programs and introducing debit card usage fees.  The new fees were not popular with the public and the Read More …