May 2 – U.S. Bank has announced the official launch of the Community Possible Relay, a nationwide initiative aimed to inspire 153,000+ volunteers across the country to take part in rebuilding and revitalizing their communities. The three-month, 12,000 mile relay will include volunteer activities centered around work, home and play, the three focus areas of the bank’s new corporate giving and volunteer program, Community Possible. The relay will visit 38 communities across 25 states.
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May 2 – As part of an ongoing commitment to helping its customers bank better, Citizens Bank will turn National Small Business Week (May 1-7) into Small Business Month, with a month-long campaign thanking small business customers with special offers, branch signage and financial tips.
April 27 – The OCC said it has become aware of communications technology recently made available to banks that could prevent or impede OCC access to bank records through certain data deletion or encryption features. Use of communications technology in this manner is inconsistent with the OCC’s expectations regarding data retention and availability, the agency warned. (more…)
April 27 – The FDIC board has approved a final rule amending the deposit insurance for small bank assessments. The final rule affects banks with less than $10 billion in assets that have been FDIC insured for at least five years. It updates the data and revises the methodology that the agency uses to determine risk-based assessments for these institutions to better reflect risks and to help ensure that banks that take on greater risks pay more for deposit insurance than their less-risky counterparts. (more…)
April 29 – DH Corporation (“D+H”), a leading provider of technology solutions to financial institutions globally, has published a white paper that discusses how the United States is moving towards faster payments. The paper, which was co-authored by PNC and The Clearing House, includes lessons learned from schemes in other parts of the world and shares insights on how U.S. financial institutions can improve their competitive position by preparing for faster payments. The paper also provides real-life examples of how faster payments can be used in business-to-business, person-to-person, consumer-to-business and business-to-consumer settings.
April 29 – Mechanics Bank (“Mechanics”) and California Republic Bancorp (“CRB”), a bank holding company for California Republic Bank, have reached a definitive agreement to merge. The transaction has been approved by the Boards of Directors of each company. Under the terms of the agreement, CRB shareholders will receive $37.19 per share in cash.
April 29 – Big banks have significantly improved in overall customer satisfaction, while midsize banks have declined and regional banks have plateaued, according to the J.D. Power 2016 U.S. Retail Banking Satisfaction Study. Satisfaction with big banks rises for the sixth consecutive year, driven by a combination of improved digital offerings, more engaged personal interactions and stronger connections with growth segments of the population, while satisfaction with Midsize banks has dropped for the first time since 2010.
April 28 – While the majority of Americans are satisfied with their primary financial provider, they give their own financial management skills mixed marks, according to a survey from Fiserv. Released quarterly, Expectations & Experiences: Household Finances study found 60 percent of respondents view financial management as a “must do” versus a “want to” and there are signs that many consumers would benefit from outside help, revealing an opportunity for financial institutions to provide advice and tools that enable consumers to take control of their financial lives.