HSBC Bank USA has introduced a checking account for business clients that combines an earnings credit rate (ECR) with credit interest. The new HSBC Hybrid Checking Account earns interest on every dollar deposited into the account, the bank said in a Thursday (May 16) press release. “Every organization has...
Banks have been fine-tuning their branch efforts as the pandemic recedes, shuttering locations in some markets and building new outposts in others. The Federal Reserve said in a recent blog post that in some cases, “banking deserts” have emerged, impacting 12 million individuals in the...
A global financial watchdog is warning against the risks of digitalization in the financial world. The Bank for International Settlements’ Basel Committee on Banking Supervision issued a report Thursday (May 16) that examines implications of the digitalization of finance, weighing both the risks and rewards presented by new technologies. “While...
Throughout history, the number seven has held significant importance. There are seven days of the week, seven colors in a rainbow, the “lucky sevens” when playing the slots, and it is the number of things that experts say people can easily remember. It’s also the...
May 10, 2024
FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have made progress in meeting consumer expectations around instant payments, there is still room for improvement. In “FinTechs’ Instant Payment Mismatch,” a collaboration with Ingo Payments, we found that 47% of […]
May 07, 2024
Back in October, the Consumer Financial Protection Bureau (CFPB) made public a new rule about data and data sharing. And it wasted no time signaling the intent behind it. In a press release issued Oct. 19,...
May 06, 2024
The amount of data now being generated by consumers is testing the constraints of the dictionary. Only 10 years ago it was measured in terabytes, which is a trillion bytes. But now those 329 million terabytes of...
May 03, 2024
Open banking is empowering consumers and the businesses they work with to adapt amid uncertainties, Trustly founder and CEO Alex Gonthier writes in the new PYMNTS eBook, “The Implications of...
May 17, 2024
The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. The Bank Resilience and Regulatory Improvement Act (H.R. 8337) will now move to the full House for consideration, the HFSC said in a Thursday press release. The bill would raise the […]
May 17, 2024
HSBC Bank USA has introduced a checking account for business clients that combines an earnings credit rate (ECR) with credit interest. The new HSBC Hybrid Checking Account earns interest on every dollar deposited...
May 16, 2024
A global financial watchdog is warning against the risks of digitalization in the financial world. The Bank for International Settlements’ Basel Committee on Banking Supervision issued a report Thursday (May 16) that examines implications of...
May 15, 2024
New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase. The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity,...
