Daily

Daily Tearsheet: Overdraft is becoming passé, US investors brace for climate risk regulations, Marqeta’s powering crypto at POS, and can Russia use crypto to get past sanctions?

  • A couple of weeks ago Citi became the biggest bank to get rid of overdraft fees, following the moves of other majors.
  • Also, behind Marqeta's push into crypto and the marketing that followed.
close

Email a Friend

Daily Tearsheet: Overdraft is becoming passé, US investors brace for climate risk regulations, Marqeta’s powering crypto at POS, and can Russia use crypto to get past sanctions?

Tearsheet provides daily summaries of the top news stories and events, like this piece, in a nifty, neat, nicely-packaged daily email. Stay informed. Subscribe here.

Incumbents are changing their overdraft policies – what does it mean for the industry?

A couple of weeks ago Citi became the biggest bank to get rid of overdraft fees.

It’s been going on for a few months now: proud announcements from financial firms about dumping or cutting overdraft fees, including Capital One, Bank of America, Wells Fargo, TD Bank, Citizens First, and now Citi.

And the announcements aren’t coming out of nowhere. Consumers are getting tired of these fees, it seems. Customers are twice as likely to switch banks if they’ve been charged a fee of any kind, according to research by JD Power.

Read more

US investors brace for upcoming climate risk regulations

US regulators are expected to issue new sets of disclosure requirements around climate-related risks this year, as companies and investors ask for more guidance around how to incorporate sustainability into their practices. 

Over the past year, there has been an increased focus from regulators on how institutions manage their climate risk exposures internally. It all started with the current administration issuing an executive order on tackling the climate crisis early last year, leading to FSOC’s report that said climate change poses a risk to financial stability, and imposes significant costs on the US economy. 

Nevertheless, enforcement of such standards is no easy feat.

Read more

The Acquire Podcast Ep. 2: Buying coffee with Ether — Marqeta’s bringing crypto to point of sale

Our second episode of Acquire, Tearsheet’s Marketing Podcast, hosted by Rebecca Alma Cohen, Head of Tearsheet Studios includes Jeff Otto, VP of Marketing at Marqeta. 

The card issuance and payments solution provider is without a doubt a major player in the space. Jeff is here to talk about Marqeta’s new campaign that launched at the end of last year, bringing crypto payments to the point of sale.

Read/listen more

The latest briefing

Banking Briefing: Can Russia use crypto to get past sanctions?

As the US and allies tighten sanctions against Russia, many experts have voiced concerns that crypto could be a way for Russia to bypass these penalties.

Crypto exchanges still aren’t as good as banks at tracking funds. Meanwhile, crypto remains largely uncharted territory for officials.

While most cryptocurrency transactions are recorded via underlying blockchain technology, Russia’s been building new tools that could help mask the origin of these transactions, making it easier for businesses to trade with the country.

Read more (exclusive to Outlier members)

Just look at the charts

1. Gap analysis of banking service and customers’ satisfaction

SourceVerinite

2. Paytm’s evolution

Sourcevigneshwar sr

Today’s stories

Paytm denies sharing data with China-based entities
Paytm says a report claiming its Payments Bank’s data was leaked to Chinese firms is “completely false and sensationalizing” (TechCrunch)

Visa offers a crypto development program for undergrad students
Visa is inviting undergraduate students to apply for its crypto development program as the company continues to build out its internal crypto talent (CoinDesk)

JPMorgan retracts Covid precautions as U.S. cases decline
JPMorgan Chase told its U.S. employees that the bank was rolling back several coronavirus precautions as cases continue to drop (Financial Times)

Affirm reports Q3 and FY results
Affirm, provided an update on its business performance, its current funding capacity, and availability, raising the company’s third quarter and full-year fiscal 2022 financial outlook (Finextra)

Does crypto need to be more user-friendly?
Block is developing a cryptocurrency hardware wallet that will make fingerprint identification the primary and default method for users to access their funds (CoinDesk)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

0 comments on “Daily Tearsheet: Overdraft is becoming passé, US investors brace for climate risk regulations, Marqeta’s powering crypto at POS, and can Russia use crypto to get past sanctions?”

Daily

Daily Tearsheet: Product-first and the SEO burst, and how fintech brands pick the right suppliers

Sara Khairi | May 23, 2022
Daily

Daily Tearsheet: Adyen’s Brian Dammeir on the shifting payments landscape, and is Affirm morphing into a traditional credit provider?

Sara Khairi | May 20, 2022
Daily

Daily Tearsheet: The banking needs of SMBs, a day in the life of GM of Credit Services at Credit Sesame, and CMO’s role in banking

  • We speak to the co-founder of SMB lender Kabbage about SMBs' needs regarding capital.
  • Also, we look at the evolving role of marketing and marketing leaders within banks.
Sara Khairi | May 19, 2022
Daily

Daily Tearsheet: The fintech gender gap and US banks’ growth rates are down in Q1 2022

  • Women are still woefully absent from fintech senior management.
  • Also, banks are generally seeing less deposit and loan book growth.
Sara Khairi | May 18, 2022
Daily

Daily Tearsheet: Robinhood’s UX experiment backfired, Oxygen’s new debit loyalty campaign, and the launch of Tearsheet’s 10-Q newsletter

  • In a good market, Robinhood's slick UX made it fun to trade. Now, people are losing money and leaving the online broker.
  • Also, there's new creativity around loyalty programs for banking, including Oxygen's four-tiered new product, Elements.
Sara Khairi | May 17, 2022
More Articles