From the category archives:
I’m just back from a fascinating ten day visit to India – and, frankly, I’m still in a bit of a daze from that amazing experience. More to come about my visit there.
Tonight, as I’m catching up on the happenings while I was gone, I came across a press release earlier this week from [...]
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There, did I get your attention? … Tonight’s headlines say it even more clearly – see this Wall St. Journal story titled “Merchants Win Debit-Card Fee Battle“. Or, see this post on PaymentsNews.com about the Durbin compromise announced earlier today.
Seriously, it seems to me that there’s a bit of a sleeper buried in all [...]
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I’ve been amazed by what I’ve been reading of late from the “analyst” firms commenting on the Durbin Amendment. A lot of what I’ve seen makes me wonder whether these folks should turn in their analyst licenses and simply register as paid lobbyists for their big bank clientele. (The Durbin amendment, for those not in [...]
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The dramatic vote on the Durbin amendment is causing panic, again, among retail bankers – who were last shocked by the Fed’s overdraft ruling. I wrote about that in November (Watch Out! Big Changes in Retail Bank Pricing Are Coming).
I think the underlying problem that banks are dealing with is that too much of their [...]
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I had the opportunity to speak with Mike Urban, FICO Senior Director of Fraud Solutions, about how criminals are enhancing their margins in ATM and debit card fraud.
The trend towards ATM compromises is largely a result of increased point of sale security. Criminals move to the weaker link, or the easiest approach, and ATMs are [...]
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The Fed announced this morning that 99% of checks are now clearing electronically between banks. During a period of unremitting bank-bashing, let’s take a moment to applaud a real home run by the bankers. The radical transformation of the check infrastructure, accomplished over the last six years, is due to some very smart law-making (the [...]
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Glenbrook’s Erin McCune is in Orlando for BAI’s Payments Connect conference.
John Stewart of Digital Transaction News moderated an open discussion exploring the most pressing issues in e-payments. It picked up on the list of 10 pressing themes raised in the November issue (pgs. 26-32). The panelists were:
Aaron Fine, Oliver Wyman
David [...]
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Green Dot’s IPO plans revealed that they are becoming a bank holding company. This is completely fascinating to me – and gives, I think, a peek at what may come for retail banking in the future.
At Glenbrook we’ve been talking, thinking, and writing for some time about two related issues. One is the [...]
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I spent most of 2008 and early 2009 completely obsessed with the credit crisis (evidenced by this index of the best crisis coverage I created just over a year ago). Reading this Andrew Ross Sorkin piece in tomorrow’s New York Times got me all riled up again:
What the Financial Crisis Commission Should Ask
NYTimes’ “Dealbook” column [...]
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A few weeks ago, Glenbrook issued a challenge to Payments Views readers: “What Are the Best Ways for Banks to Replace Lost Overdraft Fee Income?“ Given how significant the financial hit will be (JPMorgan Chase estimates a 2010 impact of $500 million after-tax), we thought we’d at least get some good ideas. [...]
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Bank income from debit card overdraft fees is variously estimated as $25 billion to $38 billion annually. The recently announced Federal Reserve Bank regulations requiring opt-in procedures will result in a gigantic hit to retail bank P&Ls, as we wrote about recently. JPMorgan Chase, for example, in a recent investor presentation, estimated [...]
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I think it’s fair to say that the success of remote deposit capture (which allows the recipient of a check to scan and deposit it electronically) took the payments industry somewhat by surprise. The early take on this offering seemed to be “hey, why not just change to electronic payments”?
The answer, of course, was that [...]
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The Fed’s announcement on Thursday of a new rule prohibiting overdraft fees on debit card and ATM transactions without consumer opt-in is an economic earthquake for retail banks.
The Center for Responsible Lending has estimated that banks make $23.7 billion in overdraft fees annually; the New York Times said this morning that Fed officials had put [...]
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Chase Blueprint brings new transparency and consumer control to credit cards
Today’s announcement of the new “Blueprint” functionality by Chase Card Services represents a significant generational inflection point in the evolution of the US credit card business.
Although they often try to refute it, for more than 25 years US credit card issuers have marched steadfastly in [...]
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Consistent with the current government focus on enhancing consumer protection, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009) brings sea changes to the credit card industry. Forward-looking financial services institutions are viewing these shifts not as a reactive compliance and operational exercise, but more broadly in anticipation of [...]
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GLENBROOK PAYMENTS BOOT CAMPS
October 6-7, 2010, Santa Clara, CA
October 27-28, 2010, New York, NY
December 8-9, 2010, Santa Clara, CA
Custom Private Payments Workshops
Headlines from Payments News
