Core Processors’ Role in Bank Fees Draws Scrutiny

Acting Comptroller Michael Hsu said that, when it comes to offering financial services, "fairness rests as much with the core processors as it does with community banks."

Happy Monday Bank Slaters!

How are we feeling today? Are you ready for the solar eclipse? As a big astronomy fan, you better believe I have my glasses and am eagerly awaiting the event!

I’ve been very busy. My latest Forbes Finance Council piece is out, looking at what recent enforcement actions say about regulatory scrutiny of fintech partnerships. There’s a big need for director education, given these consent orders.

I’m also finalizing my presentation on fintech strategies for the Minnesota Bankers Association’s Operations & Technology Conference, set for May 6-7. I was also selected to be a social media influencer to cover the exciting Future Proof Festival in Newport Beach, Calif., in September. There’s a lot of momentum!

Let’s talk about the OCC’s recent interest in the role core processors play when it comes to overdraft fees.