Links in “Banks”
- Motley Foolâs Advice: âJoin a Credit Unionâ
Stock advisors Motley Fool says if youâre not happy with your bank, join a credit union. They cite five benefits of credit union membership: no nickel and diming, great rates, âpeople helping people,â flexibility, and simplification. [4/29]
- Members of Congress Ask DOE to Step Into College/Bank Partnerships
Group of Congressional leaders invite the Department of Education to exercise its authority to regulate relationships between colleges and financial providers of debit and prepaid cards used for distributing federal student financial aid to students. The letter is in response to concerns raised in a GAO study released last month that found high fees. [4/29]
- Bankers Head to the Capitol
More than 1,000 community bankers will spend the next few days in the capitol meeting with their members of Congress to discuss issues impacting them and their communities. [4/29]
- Overdraft Practices Report: Good News, Bad News
Significant progress noted by Pew Report when it comes to overdraft practices disclosures. However, other practices show no improvement. Half of the banks surveyed still record overdrafts from high to low, which maximizes fees consumers pay. [4/29]
- Heartbleed Lessons: Look for Odd Behavior on Internal Networks, Too
It is no longer enough to look for odd behavior with log-ins and actions in customer-facing offerings. Banks need to do the same with their own internal networks to detect whether criminals are seeking access. [4/29]
- Non-Diverse Mentors a Key to Diversity
Beverly Anderson, an African-American who has risen to prominence at Wells Fargo, calls for more bankers, no matter their background, to be mentors, especially in a traditionally conservative industry. "My best sponsors are non-diverse." [4/29]
- Treading Between Regulation, Guidance and Best Practices
FDIC official seeks to shed light on the differences between regulations, guidance and best practices, as it pertains to examination expectations and enforceability. [4/28]
- Challenging the CFPB’s Student Loan Complaint Report
If a co-signer for a student loan is in place, then it was likely the basis for the loan terms that were approved by the bank in the first place. Hence, it stands to reason that the death or bankruptcy of a co-signer may at least warrant consideration of whether to declare a default and accelerate the loan balance. Failure to do so could be considered an unsafe and unsound practice. [4/28]
- Protecting Your Bank in a Complaining Culture
In an era where consumer complaints are not only invited, but encouraged, banks must get a handle on their complaint management processes. [4/28]
- 6th Bank Failure of the Year; Pace of Failures Declining
South Carolina's Allendale County Bank, with $55 million in assets, was closed on Friday, the sixth bank closed this year, compared to 10 bank failures by this time last year. [4/28]
