ABA: National Survey Finds 99% of Consumers Give High Marks to their Bank’s Online and Mobile Experience for Third Consecutive Year
Ninety-nine percent of consumers rated their bank’s online and mobile app experience as “excellent,” “very good,” or “good,”—once again tying the record mark set two years ago—according to a national survey conducted by Morning Consult on behalf of the American Bankers Association. When considering the growth of digital and online tools as well as traditional…
ABA: National Survey Finds Bank Customers Continue Turning to Mobile Apps More Than Any Other Channel to Manage Their Accounts
For the third year in a row, consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found that consumers continued to embrace digital banking channels, with 45% of bank customers using…
OCC: Agency Announces Office of Financial Technology
The Office of the Comptroller of the Currency today announced it will establish an Office of Financial Technology early next year to bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape. The Office of Financial Technology will build on and incorporate the Office of Innovation, which the OCC established in…
CFPB: New Guidance Issued to Help Banks Avoid Charging Illegal Junk Fees on Deposit Accounts
Agency highlights surprise overdraft and surprise depositor fees Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about two junk fee practices that are likely unfair and unlawful under existing law. The first, surprise overdraft fees, includes overdraft fees charged when consumers had enough money in their account to cover a debit charge at the…
FDIC: New National Survey Finds that Despite COVID-19 Pandemic, Record 96% of U.S. Households Were Banked in 2021
Latest FDIC national survey finds record low six million households remain unbanked Despite unprecedented economic challenges posed by the COVID-19 pandemic, nearly 96 percent of U.S. households were banked in 2021, according to the latest national survey released today by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s 2021 National Survey of Unbanked and Underbanked Households also…
ABA: National Consumer Survey Highlights Major Banking Policy Issues
National survey finds strong majorities believe Congress should allow cannabis banking, find overdraft protection valuable, and think fintechs and credit unions should be held to same standards as banks U.S. consumers support cannabis banking, value overdraft protection and believe financial technology companies and credit unions should be held to the same standards as banks, according…
ABA: New Partnership Between ABA and National Bankers Association Announced to Serve Minority Depository Institutions
The American Bankers Association and the National Bankers Association today announced a new series of semiannual MDI partnership summits designed to connect midsize and regional banks with minority depository institutions (MDIs) across the United States. Sponsored by ABA’s Minority Depository Institutions Advisory Council (MDIAC), the summits will begin in 2023 and will be held during an ABA spring…
ABA: National Survey Finds U.S. Consumers Are Overwhelmingly Happy with Their Bank and Financial Industry “Highly Competitive”
Survey also found consumers highly value credit card rewards programs and don’t want the federal government to put them at risk Nine in 10 Americans with a bank account (86%) say they are “very satisfied” or “satisfied” with their primary bank, and 95% rate their bank’s customer service as “excellent,” “very good” or “good,” according…
FDIC: Third Annual Academic Challenge Launched
University and College Teams to consider impacts of higher interest rates on banking sector The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s third annual Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. This year’s challenge will focus on “The Impacts…
ABA: Foundation Releases New Videos to Raise Awareness on Senior Scams
The American Bankers Association Foundation today released seven new videos designed to raise awareness of the top scams targeting older Americans as a part of its Safe Banking for Seniors campaign. The campaign, led by volunteers at banks nationwide, helps older customers, their families and caregivers understand and mitigate the risks of elder fraud and financial exploitation…