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Consumer Compliance - Banking Exchange
What’s Behind Bank of America’s Numbers? Responsibility?

What’s Behind Bank of America’s Numbers? Responsibility?

They reported a less than stellar third quarter drop, falling behind rivals on a number of categories
Banks Automate at Warp Speed While the Database Falls Behind

Banks Automate at Warp Speed While the Database Falls Behind

Every fifth European consumer is willing to use financial products from Google, Facebook and Amazon
Look inside, not outside, to understand digital transformation

Look inside, not outside, to understand digital transformation

Tesla CEO Elon Musk shocked stakeholders when he tweeted that he was considering taking Tesla private.
OPINION: Preparing For CECL: Six Considerations In Managing The Biggest Change In Bank Accounting History

OPINION: Preparing For CECL: Six Considerations In Managing The Biggest Change In Bank Accounting History

A surprisingly large number of financial institutions remain unprepared for the significant challenges involved
Bankers now have a chance to weigh in on their views regarding regulations adopted by the bureau since its establishment. The bureau wants comment on both potential changes and what commenters think should be left as is.

Open season on CFPB rules

Mulvaney’s reexamination of bureau continues with request for input on most regs
"No dice, Director." Rejecting this plea from CFPB, President Trump undid the bureau's arbitration rule.

Trump signs CFPB arbitration rule override

11th-hour appeal by Director Cordray predictably failed to move President
Bureau's latest move is one more in an ongoing match over third-party data access.

Entrée to U.S. consumer data sharing?

CFPB outlines principles for consumer-authorized third-party sharing and aggregation
A clean and honest sales program requires asking lots and lots of questions, assuming nothing. Common sense must also rule. "If less than half your employees can achieve their sales goals, that's a problem," says one expert. "You have to have realistic goals."

Keeping sales culture clean

Ask key questions now—or face worse questions from regulators and public later
Banks can learn a lot from complaints, but at the end of the day you also want unhappy customers to become satisfied customers.

Complaints management requires tough management

Customer experience hinges on getting problems fixed promptly—and right
Express Banking welcomes new customers into Fifth Third with a real banking relationship.

Fifth Third’s low-cost winner

Serving unbanked and underbanked people is express purpose of Express Banking
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