In a move within FinTech that spans continents, Rakuten, the eCommerce and investment firm, said Wednesday (Jan. 11) that it is debuting a European commercial banking unit via Luxembourg. The firm said in a release that Rakuten Europe Bank will initially make its bailiwick with deposit and...
A recent report by RBR has found that, in the offsite ATM arena, marked by burgeoning growth, slightly more than half of all ATMs were located away from bank branches as late as 2015, according to the firm’s Global ATM Market and Forecasts to 2021...
Wells Fargo is gearing up to unveil a mobile transaction plan that could enable customers to withdraw cash from ATMs as early as this spring without a debit card. According to a report by CNNMoney, customers will be able to use their smartphones to take out...
Wells Fargo said it is putting the final touches on a new compensation plan, as it continues to rebuild its reputation and win back customers in the new year, post-scandal. The Wall Street Journal reported that the plan will replace the old sales goals that put the...
Cash withdrawals set a record on Dec. 23 in the U.K., with Brits withdrawing £730 million from LINK cash machines. According to a report, consumers took out the money in the run-up to Christmas to the tune of close to £100 million more than Dec....
Turns out, it’s not only big U.S. banks that are charging their customers fees. According to a Pew Charitable Trusts study, small banks are guilty as well. According to a report by The New York Times, Pew Charitable Trusts published a new report this week using...
Overdraft fees are big business for banks in the U.S., with the Pew Charitable Trust finding the top banks charged a combined $11.6 billion in overdraft fees and insufficient fund fees last year. What’s more, the fees have doubled during the past 30 years. According to...
Embattled Wells Fargo announced Friday (Dec. 16) retail banking customer activity data for November showed total branch interactions were down 5 percent when compared to October and down 3 percent year over year. In a press release, Wells Fargo President and CEO Tim Sloan said he...
The Consumer Financial Protection Bureau said Wednesday (Dec. 14) that fees and risk can be hallmarks of college-sponsored financial products. In a new report analyzing 500 marketing pacts that exist between schools and banks, the bureau stated that it “found that many deals allow for...
