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Providers

How U.S. Banks Took Over the World

“A decade after fueling a crisis that nearly brought down the global financial system, America’s banks are ruling it. They earned 62% of global investment-banking fees last year, up from 53% in 2011, according to Coalition, an industry data provider. Last year, U.S. banks took home $7 of every $10 in merger fees, $6 of […]
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Global

Sberbank to Open First Branch in McDonald’s Restaurant

“Under the agreement, signed at the St. Petersburg International Economic Forum, the companies intend to partner in card acquiring and a number of other more innovative areas such as using technical systems to analyze data, developing consumer behavior analysis systems, speeding up bank card payments, developing a payroll project for employees, and the opening of […]
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Providers

EU Banks Plot Pan-European Rival to Visa and Mastercard

“A group of 20 European banks are working together on “setting up a pan-European payment system to challenge the dominance of Visa, Mastercard and technology companies such as Google and PayPal,” French news agency AFP reports . “The Pan European Payment System Initiative (PEPSI) would handle all forms of cashless transactions,” AFP was told.”
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Providers

CIT Expands Direct Bank Offering With Launch of EChecking

“CIT’s national direct bank, CIT Bank , today announced the launch of eChecking , a new digital checking account featuring no monthly fee, up to .25% APY and an ATM Fee reimbursement of up to $15 a month. To enhance the banking experience, the new account also features a wide variety of electronic transfer and payment solutions, […]
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Providers

Lloyds Banking Group to Shut 56 Branches by October 2020

“Lloyds Banking Group confirmed that it will close 56 bank branches across the U.K., as customer preferences continue to move toward digital banking and reduced dependence on physical branches.  The group, which has more branches than any other financial institution across the U.K., includes Lloyds Bank, Bank of Scotland, Halifax and several other mortgage, auto finance and […]
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Providers

This Bank Hired a Community Organizer and Here’s What Happened Next

“The coworking and event space is just one of several of Berkshire’s planned brick-and-mortar locations that aren’t banks at all. Internally, the bank calls them storefronts, but they could be coworking locations, retail stores, or other possibilities. They’re all branded as Reevx (“Reev-ex”) Labs. Berkshire is planning to open more of them across its seven-state […]
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