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 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 Read More …

A case for customer focus in the midst of financial regulation

  Banks are reacting to loss of fee income by creating new fees and dropping services. Financial institutions across the country are reacting to the impact of Regulation E changes and the Durbin Amendment to the Dodd-Frank Act. The Regulation E changes of 2010 prohibit financial institutions from charging consumers fees Read More …