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....
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...
In case you've been wondering where things stand with government bailout funds the WSJ has an interactive graphic. You can sort by program (Automotive Industry Financing Program, etc.), by recipient company, by date, by amount, etc. (hat tip to Barry Ritholtz)
At Glenbrook, we’re pretty interested in what makes mass consumer adoption of new payments capabilities happen – or not. We’ve been talking lately about “brand as action” – the notion that consumers (and merchants) need a way to express how they are going to pay or be...
We often think of innovation as being primarily technology-driven - but there are some great examples of innovations in banking that were simply business model or process changes involving little, if any, new technology. Two examples that have proven very valuable...
Late last week, Thomas M. Hoenig, President and Chief Executive Officer of the Federal Reserve Bank of Kansas City, gave a speech in Omaha titled "Too Big Has Failed".A lesson to be drawn from Continental is that even large banks can be dealt with in a manner that...
This week NPR's This American Life adds to it's excellent series of podcasts explaining the credit crisis in every day lay terms with an hour long program on bad banks: The collapse of the banking system explained, in just 59 minutes. Our crack economics team—the guys...
The Economist observes that the downfall of the telecom industry (1997-2003) offers foreboding lessons for today's bankers. Just like banks, telecoms had imperial bosses, kamikaze deals and incomprehensible jargon—if collateralised-debt obligations troubled you,...
In an article titled Maybe This Is Why People Don't Like Banks?, Broox Peterson writes on his Payments Industry Regulatory Compliance blog about an AP wire story he read this morning:Apparently 30 states have agreements with the largest banks in this country to issue...
Earlier this month, Stanford Senior Fellow Paul Romer wrote an op ed for the Wall St. Journal titled "Let's Start Brand New Banks" - writing that "investing the TARP funds in new banks will do more to help the troubled but potentially viable existing banks than giving...
