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Deposits & Payments
Deposit growth and strategies have always been a core focus of retail banks. Today's volatile economic climate - with consumers relying less on credit products and more on deposit account services - brings deposit growth and account management to the forefront. As technology and consumer needs evolve, so does the concept of payments. With innovations such as virtual wallets and other forms of digital currency comes new and unique challenges for the payments space. CBA monitors and addresses the issues facing retail banks in the management of the deposits and payments functions.
- July 12, 2017 - 2:00PMPastJuly 12, 2017Consumer adoption of technology and shifting preferences toward digital channels have been the impetus for bank innovation for several years. But did you know that the majority of U.S. shoppers are now in segments that either don’t use bank branches, don’t care much for them...or both? Novantas’s 2017 Omni-Channel Shopper Survey indicates that the pace of bank innovation needs to ramp up...July 10, 2017ON Monday, July 10, 2017, the FDIC announced it is releasing and seeking public comment on a procedures manual developed to assist FDIC staff as they evaluate and process deposit insurance applications. The manual addresses each stage of the insurance application process: from pre‑filing activities to application acceptance, review, and processing; pre‑opening activities; and post‑opening...June 23, 2017Calling for Coordination and a Commission: CBA Takes the Hill Several prominent regulators joined the Senate Banking Committee this week to discuss economic growth and the regulatory environment. Ahead of the hearing, our legislative experts sent a letter to the committee’s Democratic and Republican leadership calling for several reforms, including improving coordination between the regulatory...June 15, 2017On Thursday, June 15, the CFPB announced it is seeking comment on proposed updates to its prepaid rule. The Bureau issued its prepaid rule in 2016 in an attempt to require banks to limit consumers’ losses when funds are stolen or cards are lost. The agency is seeking comment on several adjustments to the prepaid rule. The proposal addresses concerns raised by prepaid companies about what they...June 12, 2017The right decisioning vendor can mean the difference between mediocrity and success. Wondering how to identify and choose the best vendor for your unique needs? Check out the Zoot Guide to Choosing a Decisioning Vendor for actionable insights into the selection process. Please click link to access, A Zoot Guide: How to Choose the Right Decisioning Vendor .June 8, 2017On Thursday, June 8, 2017, CBA and ABA submitted a comment letter in response to the Department of Education’s (DOE) “Request for Information Regarding Disclosures for Student Financial Accounts.” In May the DOE issued the RFI requesting comment on using a model disclosure very similar to that of the recently enacted model short-form disclosure for prepaid cards. In our comment, we strongly...June 8, 2017On Thursday, June 8, 2017, CBA and the Financial Services Roundtable submitted a joint comment letter in response the CFPB’s request for information on the state of the consumer credit market. The CFPB is required under the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) of 2009 to conduct a review of this market on a biennial basis. In our letter, the Associations...