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And per the complaint filed in the US District Court for the Eastern District of Pennsylvania, Citadel never followed through on its pledge to open three branches in predominantly Black and Hispanic Philadelphia neighborhoods in 2009.

The news: Washington-based Hapo Community Credit Union is set to acquire Community First Bank, a five-branch bank that鈥檚 also located in Washington. This acquisition breaks the previous record for credit union-bank deals, with 2024 seeing 18 such deals so far, surpassing the 2022 record of 16, per Banking Dive.

Branches remain instrumental to driving Gen Zers to buy. Physical branches (36.7%) were likelier to drive purchases among Gen Zers than was online banking (36.2%). Branches were also the top channel through which Gen Zers bought a bank鈥檚 product or service (70.0%). That鈥檚 a 19.4 percentage-point lead over the next option, i.e., apps on a smartphone or tablet.

What this means for banks: FIs with a strong branch presence should promote easy accessibility to cash in their marketing, consider expanding their ATM presence, and allow users to easily find the nearest in-network ATM location through mobile apps. Digital-only banks or those that have closed many locations should consider covering customers鈥� ATM fees, at least up to a certain threshold.

Zooming out: Google鈥檚 change is an olive branch intended to reassure advertisers seeking greater protections for their first-party data on major platforms. However, it could also be an attempt to appease regulators in the US and EU, who have increasingly turned a wary eye toward data collection practices.

The news: A massive Bank of America (BofA) outage on Wednesday disrupted digital and in-branch services for thousands of users. The outage left some unable to see their account balances while others saw $0 balances in their web and mobile banking apps. BofA鈥檚 brick-and-mortar branches prevented customers from coming in, saying the 鈥渟ystem was down,鈥� per Tom鈥檚 Guide.

The judicial branch will also remain static. Regardless of the results of the election, the federal judiciary will remain dominated on all levels by conservative judges who have taken a very skeptical view of regulation. Unless Congress succeeds in pushing through a legislative overhaul, judges will continue operating in the confines of antitrust precedent.

Hire an in-house designer to integrate each branch into its community and reflect the local culture, history, and aesthetics. For example, its Williamsburg, Brooklyn branch uses a sculptor鈥檚 old studio and incorporates some art from the neighborhood into its design.

As financial functions go digital and bank branches shutter, chatbots are more likely than human staff to field customers鈥� questions and problems. But many customers are dissatisfied with the inherent limitations of simple rule-based chatbots that can handle only basic questions and routine transactions. How does this affect FIs?

The likelihood of a Republican majority in the Senate could still result in a contentious dynamic, sparking frequent legislative news coverage that might offset a calmer executive branch.

One individual moved $470 million of that through TD Bank鈥檚 branches after bribing its employees with $57,000 in gift cards, per AP News. In other cases, staff raised red flags after noticing 鈥渙bvious cases of abuse,鈥� but the bank still failed to act, per BBC. The historic fine wasn鈥檛 a complete surprise to those familiar with the bank鈥檚 most recent earnings report.

That鈥檚 similar to Bank of America鈥檚 motivation for expanding its branches. The strategy: To keep up with competitors, the bank plans to integrate Investment Banking, Corporate Finance & Advisory, and Financial Sponsors groups under one umbrella to make operations more efficient and client services more cohesive.

Since branches are a key differentiating factor, some of these customer stories should feature an FI鈥檚 customer service at the branch, if they have a local presence.

Our take: The Vizio-Comscore renewal is an olive branch to advertisers worried about significant disruption or changes as a result of the potential Walmart acquisition. With connected TV advertising cementing its place as a dominant ad channel, Walmart benefits from an open ecosystem that makes it easy for advertisers to access viewership data.

If you're one of these companies that is seeking to get through a regulatory hurdle in acquiring someone, as many of these streaming companies are trying to do, advertising on X is probably in your interest and you can devote a not majorly significant portion of your spending as an olive branch in exchange for something more significant. Jeremy Goldman (14:47):.

Her reasons included her local branch closure and a desire for hometown-style customer service. The type of warm, personalized customer service these customers crave is something many local FIs do naturally.

Younger consumers were more likely to visit bank branches weekly or more. Gen Xers were the most likely to say that their bank doesn鈥檛 have a branch nearby (or at all), while over 13% of both millennials and Gen Zers visit their local banks at least once per week. By comparison, 8% of boomers do the same. This could be an indicator of the viral 鈥渃ash stuffing鈥� trend among young consumers.

The trend: As the number of US bank branches continues to bounce back, banks are implementing new branch strategies for maximizing traffic and customer reach and satisfaction. A few larger banks dominate US airport terminals, hoping to attract airport employees and travelers with time to kill between flights, per CNBC.

What to expect after the election: Both presidential candidates have served in the executive branch before. Their public histories with banking policy give us a decent glimpse into the changes we could expect from their presidencies. Here are the key differences between the two candidates鈥� platforms that will have the greatest effect on the banking industry:.

Her reasons included her local branch closure and a desire for hometown-style customer service. A municipal customer also described ending her relationship with US Bank after it took six months to resolve a major deposit error. She was also happy with the higher interest rate at her new local bank.

When FIs attempt to fill the gaps left behind by branch closures, customers who cannot participate in telephone conversations or mobile banking often fall through the cracks. Going digital isn鈥檛 the only answer: While digital banking has welcomed many disabled customers into the everyday banking experience, it isn鈥檛 the end-all, be-all in banking accessibility.

The number of ATMs and bank branches in the UK has fallen sharply in recent years, per UK government research. The US went from 470,000 ATMs in 2019 to 451,500 at the end of 2022, per Euromonitor International data cited by the Wall Street Journal. Our take: The US and UK governments are working to protect cash access.

But needing to apply in branch could deter some consumers from applying, and Chase may have missed out on the wave of consumers looking for new credit cards as rising interest rates put people off borrowing. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry.

This campaign aligns with its hiring and branch location strategies which are aimed at acquiring customers in low-income communities. Critics questioned the effectiveness of this initiative, and the bank responded by agreeing to a third-party audit of its progress鈥攚hich confirmed its work. This highlights the importance of truthfulness in environmental and social marketing campaigns.

Cozy up: Which in-branch amenity have banks yet to offer their customers? A) Meditation room. B) Cafe. C) Event space. D) Bike repair station. Many US banks are redesigning branches to feel less intimidating, adding amenities to help customers feel more comfortable when seeking financial advice, according to the Associated Press. June 4, 2024.