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Overdraft fees have traditionally been a reliable revenue source for many banks. However, regulators and consumers are now questioning their fairness.  The Consumer Financial Protection Bureau (CFPB)  recently took action against the Navy Federal Credit Union for charging nearly $1 billion in surprise overdraft fees. The CFPB’s enforcement sends a strong message to financial institutions: … Read more

Meta recently made news not for its top-notch technology but for firing employees who misused company-provided meal vouchers to purchase household items like toothpaste and detergent. While this creative stretching of the rules may seem minor, it highlights a more significant challenge that many employers face: ensuring that employee benefit programs are used properly and … Read more

Debit card issuers are facing increasing scrutiny around fee structures, especially overdraft and non-sufficient funds (NSF) fees. According to the Center for Responsible Lending, large U.S. banks with more than $10B in assets collect billions in overdraft fees from their customers. The Consumer Financial Protection Bureau (CFPB) recently underscored the need for clear proof of … Read more

Growing Trend of Sustainable Debit Cards The trend of sustainable debit cards is gaining significant momentum as both consumers and financial institutions prioritize environmental responsibility. In 2023, there were 26.71 billion payment cards in circulation globally, many of which are made from environmentally harmful PVC plastic. With rising consumer demand for eco-friendly solutions, banks and … Read more

In this episode, we explore how a card issuer teamed up with Kipp to reduce declines and boost customer satisfaction using real-time collaboration with merchants. To listen click here. *Note: This podcast was generated using AI, but the insights are based on a real case study.  

The banking sector has an opportunity to address one of the most pressing challenges of our time – climate change. The Paris Agreement, adopted in 2015, set ambitious goals to keep global temperatures down by reducing greenhouse gas emissions.  By supporting sustainable initiatives, banks can attract a growing number of consumers who prioritize green practices … Read more