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Where Challenger Banks & Incumbents See The Next Digital Banking Opportunity

CB Insights

In contrast, online banking in the US has surged with 73% of consumers using it regularly, up from 46% in 2010. . This older demographic also accounted for 20% of those who deposited mobile checks for the first time. . Source: FDIC. Alternative services can be costly.

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Chase Tries To Win Over More Unbanked Consumers

PYMNTS

The accounts come with debit cards, digital payments and free check cashing, but do not allow overdrafts.”. She added that the annual $60 cost for the new accounts compares with charges of $200 to $500 per year at check cashing and money order service providers. a month and no minimum balance,” according to Reuters. In 2017, 6.5

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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs

PYMNTS

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks.

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Why Aspiration Says Big Banks’ “Bad Decisions” Were Its Gain

PYMNTS

When Bank of America announced last week that it was terminating its free checking option for low-balance customers, a literal Tweet storm broke out. The new program, first launched in 2010, was a digital-only offer for customers with low-balance checking accounts. Last week, the bank shut down the program completely.

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LendingClub Settles With SEC, DOJ

PYMNTS

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. In 2010, LendingClub added to its war chest with a $24.5

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How People Pay Around The World And What It Means For The Future Of Payments

CB Insights

Virtually all US private sector wage earners receive wages into bank accounts, according to the Global Findex database, which are insured by the FDIC and offer an easy way to earn interest. In the United States, 93% of consumers have some sort of bank account. China’s alternative: Alipay and WeChat.

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Top 17 U.S. Online Digital Banks for Small Business (SMB) Jan 2025

Fintech Labs Insights

annual return Challenger SMB Banks Currently Active in the United States 1. annual return Challenger SMB Banks Currently Active in the United States 1. annual return Challenger SMB Banks Currently Active in the United States 1.