Five years after the collapse of major banking institutions Lehman Brothers and Bear Stearns, Americans still don't trust big banks with their money. A 2013 Gallup poll found that 74% of Americans had "some or very little confidence" in banks, while only 10% said they had a "great deal" of confidence.
CHENNAI: With the demonetisation drive pushing India to a cashless society , people fear losing money in cyber frauds.Credit cardholders with high limits are more worried. Realising the need to make their elite customers feel secure, some banks have developed apps that allow customers to block, unblock or change transaction limit on their cards. ICICI Bank, Axis Bank and City Union Bank have their versions of such an app. Cardholders can set geographical limits in a way that a card can be used only in a 5-km or 25-km or even 250-km radius (the range varies up to 1,000 km).
With student loan debt in the U.S. now well beyond $1 trillion, everyone seems eager to get into the debt-reduction business. Some cities will pay down your debt if you move there, while a growing number of employers are making loan payment contributions part of the benefits package.
Dissatisfied companies in Canada are increasingly turning to non-bank options for their financial service needs, according to a global commercial banking survey released by Ernst & Young on Thursday.
Credit card issuers and insurance companies are two examples of non-banks competing with traditional institutions for lending and trade finance, foreign exchange and merchant services, according to the survey.