Banking | Credit Card Topics

A Recent Study Highlights How Predictive Analytics Can Help Consumers Avoid Overdraft Issues While Curbing Attrition for Banks

By: Matt Walker, 9/11/2019

In a Nutshell: In 2017, Americans paid around $34 billion in overdraft fees. The hefty fees often hit consumers unexpectedly and can lead to dissatisfaction or even attrition. “Analyzing Bank Overdraft Fees with Big Data,” explores consumer behavior that causes the fees, just how the fees impact customers and banks, and how banks can better address the issue for the benefit of all. The paper was written by New York University Professor Xiao Liu, and Alan Montgomery and Kannan... read more »

Where Do Banks Go for Loans? A New Paper Looks at the Quality of Banks that Do Business with Stigmatized Lending Facilities

By: Matt Walker, 8/22/2019

In a Nutshell: Just like other businesses, banks need extra cash on occasion. But a bank that takes out a loan can be perceived as being a weak institution, so banks generally try to conduct their borrowing activities behind the scenes. A recent paper, “The Quality of Banks at Stigmatized Lending Facilities,” by Federal Reserve Board economist Sriya Anbil and Claremont McKenna College Economics Professor, Angela Vossmeyer, Ph.D., explores how an emergency lending facility that is... read more »

BNP Paribas Recognized for Its Integrated Corporate Social Responsibility Efforts That Include Conscientious Investments and Civic-Minded Initiatives

By: Matt Walker, 8/13/2019

In a Nutshell: In recent years, more corporations have developed corporate social responsibility (CSR) policies that take into consideration factors such as sustainability and the impacts of their actions. BNP Paribas — one of the world’s largest banks — takes its CSR efforts seriously by embedding them in the institution's investment and financing strategies. It also fosters an environment of diversity and inclusion and encourages its employees to take leading roles in its CSR... read more »

Citizens State Bank is Recognized for Its Efforts to Give Back to Indiana Communities Through Volunteerism and Financial Education

By: Matt Walker, 8/6/2019

In a Nutshell: Citizens State Bank in Indiana goes above and beyond to support and give back to the communities in which it operates. CEO Dan Maddox emphasizes the importance of Community in the Bank's mission statement, which is posted at every associates' desk and throughout common areas. It is reflected in the Bank's HR policies, with all employees receiving paid volunteer hours that can be used during normal business hours; in the Bank's Marketing with Community Appreciation Days... read more »

Cornerstone Bank Fosters Financial Literacy Among Students and Supports Community Service in North Dakota and South Dakota

By: Matt Walker, 8/1/2019

In a Nutshell: Cornerstone Bank has roots in North Dakota dating back to 1936. The community bank demonstrates its dedication to the regions it serves in several ways, including its various financial literacy initiatives tailored to students. Cornerstone Bank and its team members also support a number of nonprofits through donations and volunteer efforts. And its banking products and quality customer support are based on strong values that promote honesty, integrity, and being a good... read more »

Australia’s ME Bank Recognized for Its No-Frills, Low-Rate Frank Credit Card

By: Matt Walker, 7/23/2019

In a Nutshell: Credit card options can be overwhelming thanks to the numerous rewards and perks programs available to consumers these days. Australia’s ME Bank has returned to the basics with its Frank Mastercard. The card’s greatest feature is its lack of features. The Frank card comes with a low, variable rate for both purchases and cash advances, and no annual fee. The card is a great option for those looking to build credit or just to have a straightforward card on hand for... read more »

Valley National Bank Supports Economic Inclusion by Investing Time and Resources to Build Stronger Communities in Four States

By: Adam West, 7/8/2019

In a Nutshell: Valley Bank operates on the notion that a financial institution should make people’s lives better. That’s why it backs development opportunities in its communities that focus on home affordability, financial education, entrepreneurship, and environmental stewardship. Valley operates over 200 branches in New Jersey, New York, Florida, and Alabama, and invested more than $1 billion in community-building programs in 2018. Those comprehensive, community-strengthening... read more »

The American Customer Satisfaction Index Attributes the Boost in Customer Approval Rates for Banks to Technology

By: Matt Walker, 7/5/2019

In a Nutshell: The American Customer Satisfaction Index (ACSI) is the only organization of its kind assessing consumer satisfaction levels across multiple industries in the U.S., including finance. The organization’s 2018 data revealed that satisfaction is increasing in the financial sector as a whole, and specifically among banks. ACSI’s Managing Director David VanAmburg chalks up the increased satisfaction levels to technological advances like online banking and mobile apps that... read more »

Spencer Savings Bank: Core Values of Volunteerism and Financial Support Help New Jersey Communities Thrive

By: Adam West, 6/20/2019

In a Nutshell: Elmwood Park in northeastern New Jersey is a small town situated within the urban cacophony of New York City and Newark. But thanks to the team at Spencer Savings Bank, big things happen there every day. Living up to the highest aspirations of community banks, Spencer Savings Bank doesn't just wait for charitable opportunities to come to it -- it goes out and finds them -- pragmatically offering employee time and resources to help communities throughout its service area... read more »

Jefferson Security Bank: A Tradition of Serving and Giving in West Virginia’s Eastern Panhandle for More Than 150 Years

By: Adam West, 6/19/2019

In a Nutshell: Jefferson Security Bank, based in West Virginia's history-steeped Eastern Panhandle, recently celebrated 150 years of service by hosting a good old-fashioned street party. The well-attended event culminated a campaign of community giving called 150 Days of Random Acts of Kindness, with the bank and its employees contributing their time and resources in a myriad of creative ways. JSB has a long tradition of service in its communities that has earned the bank our Editor's... read more »

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