Bill Sullivan

Your financial institution may have scrambled to roll out new digital capabilities during the pandemic. But are these efforts successfully unlocking all the opportunities that digital banking can provide? Get advice on accelerating your digital roadmap.

5

Bank of America is helping teammates grow their skills with innovative AI training to simulate real world situations. The technology helps colleagues improve quickly and build confidence in their work. https://bit.ly/4i7Fjyg

3

The Fed chose to keep rates steady at the recent July meeting but set the stage for a potential September rate cut. How has this decision changed the interest rate outlook? How does the latest unemployment data change this conversation? In this report, Huntington Commercial Bank Director of Economics, Ian Wyatt, reflects on the Fed’s hesitation to cut rates, where key economic data stands today, and what to expect for future cuts. #economicoutlook #economicnews The Huntington National Bank is Member FDIC. 

63

🚨 CFPB Sues Major Banks Over Fraud on Zelle: A Wake-Up Call for Consumer Protection 🚨 The Consumer Financial Protection Bureau (CFPB) has taken legal action against JPMorgan Chase, Bank of America, Wells Fargo, and Early Warning Services (operator of Zelle) for failing to protect consumers from rampant fraud on the Zelle payment network. Since its launch in 2017, Zelle has facilitated billions of transactions, but hundreds of thousands of fraud complaints have been reported, with over $870 million in consumer losses tied to its vulnerabilities. The CFPB alleges that these financial giants rushed Zelle to market without implementing effective safeguards, leaving consumers exposed to scams while offering minimal support when fraud occurred. 🔍 Key Allegations 1️⃣ Failure to Prevent Fraud: Zelle’s weak identity verification allowed scammers to exploit its features and redirect payments to fraudulent accounts. Criminals easily moved between banks due to the lack of communication and fraud tracking across the network. 2️⃣ Ignoring Red Flags: Despite receiving hundreds of thousands of fraud complaints, the defendant banks failed to act on these patterns to prevent further fraud. Banks allegedly violated Zelle’s own rules by not reporting fraud incidents consistently or on time. 3️⃣ Abandoning Fraud Victims: The banks failed to properly investigate customer complaints or reimburse victims, violating federal laws like the Electronic Fund Transfer Act and Regulation E. CFPB’s Enforcement Goals Halt Unlawful Conduct: Stop banks and Zelle from engaging in unfair and deceptive practices. Consumer Redress: Obtain restitution for harmed consumers and penalties to fund victim relief. Enhanced Safeguards: Implement stricter fraud prevention and reporting protocols. 💡 Takeaways for Consumers Stay Vigilant: Scammers often exploit payment networks, particularly during the holiday season. Report Scams: Submit complaints about payment fraud to the CFPB at (855) 411-CFPB or via their website. The Bigger Picture This lawsuit underscores the critical need for consumer-first protections in financial technologies. Payment networks like Zelle must balance convenience with robust security to ensure trust and safety for users. AreEn Source - https://lnkd.in/eqanfzbh 💬 What are your thoughts on the CFPB’s actions? Have you or someone you know faced fraud issues with Zelle or similar platforms? Share your insights below to continue the conversation. Source: Consumer Financial Protection Bureau #ConsumerProtection #Zelle #FinancialFraud #CFPB #BankingSecurity #ConsumerRights #FinTech

4

💥 Congrats to Associated Bank for being ranked by J.D. Power as #1 for Retail Banking Customer Satisfaction in the Upper Midwest Region. 📽 Watch Associated Bank's Michael Tischer explains how Personetics is successfully partnering with the bank to boost customer engagement, increase sales, and empower the financial well-being of its customers. By partnering with Personetics, Associated Bank provides customers with "Money Monitor," a financial data-driven, hyper-personalized experience aligning with their digital-forward strategy. 🚀 In just one month since the launch of Money Monitor and its actionable insights, the results have been astounding with an impressive average rating of 4.4 (out of 5) for insights and a remarkable 30% digital engagement rate across the board. To learn more about Personetics's offering Contact us at https://lnkd.in/dBgCq4PG #Personalization #DigitalInnovation #CustomerInsights #Testimonial #ASB #finance #Fintech #personalization #customerengagement #financialwellness #mobilebanking #digitalbanking #customerexperience #moneymanagement

16

💥 Congrats to Associated Bank for being ranked by J.D. Power as #1 for Retail Banking Customer Satisfaction in the Upper Midwest Region. 📽 Watch Associated Bank's Michael Tischer explains how Personetics is successfully partnering with the bank to boost customer engagement, increase sales, and empower the financial well-being of its customers. By partnering with Personetics, Associated Bank provides customers with "Money Monitor," a financial data-driven, hyper-personalized experience aligning with their digital-forward strategy. 🚀 In just one month since the launch of Money Monitor and its actionable insights, the results have been astounding with an impressive average rating of 4.4 (out of 5) for insights and a remarkable 30% digital engagement rate across the board. To learn more about Personetics's offering Contact us at https://lnkd.in/dBgCq4PG #Personalization #DigitalInnovation #CustomerInsights #Testimonial #ASB #finance #Fintech #personalization #customerengagement #financialwellness #mobilebanking #digitalbanking #customerexperience #moneymanagement

36

This budgeting and strat planning season, it's important to know what your future consumers are learning about #money, if you want to keep offering them #financial #products ... staying plugged into the future of money - even/especially for #banks and #creditunions - requires educational, technical, and operational action TODAY. The team at DaLand LLC is standing by to help bridge #TradFi to #DeFi; so your future business can keep offering savings accounts to savvy 'kids!' https://lnkd.in/edpyf9fT #dollar #inflation #bitcoin #btc #savings #economy

2

Our mission to Change Banking for Good guides how we run our businesses and serve our customers, associates and communities. See how we’re bringing our mission to life in our latest ESG report. https://dy.si/4NPPg

1

Self-care is one of the most important things a parent can do for themselves and their child(ren). Check out this article from Fidelity's Learning Center for a few tips. #FidelityAssociate

5

The Federal Reserve plays a vital role in the payments ecosystem. Join the Fed Town Hall during Nacha Smarter Faster Payments 2024 as we discuss topics driving change in payments. Learn more: https://lnkd.in/dRxTYRcb @Federal Reserve Financial Services #FederalReserve #payments #paymentsindustry #financialservices #banking #Payments2024

131

2 Comments

Ready, set, reset! Explore these tips from Capital One for making healthy adjustments to your routine this fall. https://bit.ly/3XAgXoF

1