In the past few years, consumers’ interaction with ATMs have evolved. From envelope-less deposits to email receipts to live-teller video conferencing, upgrades are coming to ATMs. Wells Fargo’s next upgrade for its ATMs is the design, which may remind you of a tablet.
- Eight state attorney generals have teamed up to dispute the constitutionality of the Dodd-Frank Act, which gave way to the creation of the Consumer Financial Protection Bureau. In a lawsuit, they allege that the legislation included no checks and balances — saying that the CFPB’s director is accountable to no one. Could this end the reign of the young consumer watchdog agency?
- Arvest Bank has received approval to buy 29 Bank of America branches in four states. To close on March 22, the branches represent roughly $750 million in total deposits across Arkansas, Oklahoma, Kansas and Missouri. The branch sale is part of Bank of America’s plan to reduce its branch network.
- With new technology, a casino in Atlantic City offers gambling (slot and poker) right from the comfort of a hotel room. Patrons load money into an electronic account and gamble away through their hotel’s TV (controlled by remote). Why deal with second-hand smoke and other gamblers downstairs, right?
- Wells Fargo plans to launch a new ATM experience that is very similar to how consumers already use tablet devices. To be available in all Wells Fargo ATMs by May 2013, the bank ditches the old-school screen layout for a more modern template — designed to be easier for customers to navigate.
- New Jersey has passed a law that bans any marketing of credit cards on public college campuses, including through campus displays and alumni association partnerships. The state’s public colleges are prohibited from signing agreements with credit card issuers to market directly to students.