In 2023, trust levels in the banking sector took a downward turn, discussed by James Daley in Anna Wise's article in The Standard on debanking. https://lnkd.in/e5AYgD5Y
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The past six months have seen an extraordinary confluence of new and existing regulations affecting every aspect of banking and every customer relationship. In the latest ABA Viewpoint article about the cumulative effects of the recent regulatory tsunami, ABA’s Jonathan Thessin, Hallee Morgan and Avery Weisel explain how even humble basic banking services such as the checking account are under fire from regulators at the Federal Reserve and the CFPB. https://lnkd.in/gWDW_UFP
From triple threat to total impact | ABA Banking Journal
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Checking in on the 2023 Banking Crisis: https://ow.ly/Ezgn50Q5ziB
Checking in on the 2023 Banking Crisis
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An interesting piece about pending banking reform, the opportunities and the potential pitfalls.
Open banking and financial risk - NZ Herald
nzherald.co.nz
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The latest scrutiny by the Competition and Markets Authority (CMA) revealed serious compliance failures among four major high street banks: HSBC, Lloyds, TSB, and Allied Irish Bank (AIB). These banks fell short in adhering to crucial banking rules designed to protect customers and ensure transparency in financial services. #AIBbankingcompliance #bankingregulationsUK #CMAenforcement #CompetitionandMarketsAuthority #customerinformationaccuracy #financialtransparency #HSBCcomplianceissues #Lloydsbreach #OpenBankingstandards #retailbankingregulations #thxnews
Major UK Banks Breach CMA Rules
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What's happening in the banking and payments sector in 2024
Seven things banks will be looking out for in 2024
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Grandfathered banking products often get milked by a bank, driving higher revenue for the bank and poorer value for the customer. I wrote about ASB’s PrizeSaver product last year, which has been grandfathered. Here’s an update on how things have changed since then. There is also a new challenge for all banks and financial institutions that grandfather products, CoFI. This is new legislation that has fairness at its heart. Grandfathering and fairness often do not go hand in hand. Read on for more … #ASB #GrandfatheredProducts #CoFI #Fairness #Banking
Fair game? How Kiwi are about to get a fairer deal on their banking
squirrel.co.nz
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With regulators upping their expectations for banking as a service this year, bankers are assessing what the future looks like for BaaS. The outlook is not all negative. In fact, those working in banks – especially those in compliance positions – see this phase as a key step forward in the maturation of BaaS banking.
Bankers Say BaaS Turmoil Primes Future Growth
thefinancialbrand.com
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In a world of app-based banking, access to a face-to-face banking services is becoming increasingly rare 🏦 One UK town has lost six of its bank branches in the past three years with only one remaining, which has promised its 8,000 customers (one quarter of the local population) it will be staying open. But how do residents feel about these closures? Read more This Is Money 👉 https://bit.ly/436gBYk #RetailBanking #Banking #BankBranchClosures
I spent a day at the only bank branch left in Windsor
thisismoney.co.uk
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Good article from Joel recently on banking satisfaction. Our latest surveys continue to show credit unions have ten points higher satisfaction than banks and that holds true for both personal and small/med enterprises.
You just have to ask
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Do you know what you should always look for in a bank? I spoke to Georgia Lord, CFP®, CFF about the must-haves banking customers should always seek out in a financial institution, whether they plan to switch banks or stick with their current one. This article is part of today's launch of GOBankingRates' Best Banks 2024: read more at the link below! #bestbanks #banking #financialadvice #moneymanagement
I’m a Financial Expert: These Are the 5 Things I Always Look For in a Bank
gobankingrates.com
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