This article deals with how consumers are less happy with Digital-only Banks... https://thefinancialbrand.com/111929/consumers-satisfaction-digital-only-banks-ux-rates/
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Neil Stanley
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Original Message:
Sent: 04-08-2021 12:19
From: Barb Rehm
Subject: Weekly News Roundup
March Madness is over and even if your team lost in the first round (Mizzou!) watch this CBS video capturing the joy that is college basketball. Speaking of joy, hundreds of dolphins thrilled some boaters. And in the "really?" category, the country is running low on ketchup. Here's what else you might want to read this week.
"AI in Banking: Where it Works and Where it Doesn't"
AI is powerful, right? It's the future, right? Then why is it so hard for non-technical people to understand how to use it? To the rescue is American Banker's tech editor, Penny Crosman, with this excellent explanation of how and where and why AI can work in banking.
"Lenders Prepare to Capitalize on Infrastructure Spending"
As you likely saw, the Biden Administration proposed spending $2 trillion to upgrade the country's infrastructure, and American Banker wasted no time finding out what bankers think of the plan.
"Free Banking in California? New Bill Tackles Access and Racial Equity"
The California legislature is considering BankCal, the first state government program to compete directly with banks by offering universal consumer banking with no-fee debit cards, direct deposit, electronic bill payment, and ATM access, The Los Angeles Times reports.
"JPMorgan's Chief Sees a Boom Coming"
JPMorgan CEO Jamie Dimon released his annual (long) shareholder letter this week, and it got a lot of coverage including this overview in The New York Times. CNBC focused on Dimon's thoughts about remote working while The Wall Street Journal highlighted his thoughts about the future of the economy. American Banker has these six takeaways.
"Lenders Want More Funding for Newly Extended PPP"
The Paycheck Protection Program got new life. Now lenders say it needs more funding, American Banker reports. The SBA says it expects to run out of PPP money this month, Politico reports, despite the program's extension to May 31.
"Blockchain and Taking the Politics Out of Tech"
Former acting Comptroller Brian Brooks speaks bluntly about fintech – and traditional banks – in an interview with TechCrunch. "The banks are trustworthy, but the banks are trying to serve sort of like the middle 60% of society. But if you're young, lower income or a minority or an immigrant or whatever…there's a big gap in the banking sector… and fintechs are harnessing market incentives to build products for those people that have been excluded."
"Fidelity, Square, Coinbase Launch Bitcoin Trade Group"
Despite Brian Brooks' warning to keep politics out of tech, a new trade group has been formed to lobby on behalf of digital currencies, the Crypto Council for Innovation.
"6 Things Banks, Community Groups Want in Next Phase of CRA Reform"
If the words "CRA reform" don't make you roll your eyes (for which you'd be forgiven, considering how long federal regulators have been talking about this,) read this American Banker story. It neatly and concisely lays out six areas of agreement on how best to change the rules implementing the 1977 law.
"Catching Bank Robbers in a Time When Everyone is Wearing Masks"
Every week I read banking-related stories from around the country to compile this roundup. While I can't cite statistics, I can confidently tell you that bank robberies are on the rise. Local papers and TV stations report multiple robberies every week. This story from a CBS affiliate in Phoenix cites 24 bank robberies in Arizona this year. The FBI keeps tabs, too, and even has a "Bank Robbery News" page on its website.
"The Real Story on Bank Branch Closures"
The ABA Banking Journal has a long and detailed article refuting claims that branch closures have led to banking deserts. It's got a lot of facts if you ever need to defend the industry's shrinking branch network.
"Executives at Small U.S. Banks Offer a Jolt of Optimism"
Community bankers are upbeat about economic growth, according to the latest Community Bank Sentiment Index published by CSBS.
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Barb Rehm
Senior Managing Director
IntraFi Network
Arlington VA
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