Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news links because these resources have informed and inspired us. Here’s our weekly roundup of industry news:
Try to Be Customers’ Favorite Bank, Not Their Only One – Once, banks vied to offer everything a customer needed under one roof. Now, banks just need to figure out how to be the kitchen — the favorite room in the house. That’s particularly true for the overbanked, those with four or more banking relationships. They are mass-affluent, tech-savvy and financially literate. They move money easily and more likely to use aggregators like Mint.com and LearnVest than others.
Credit Unions to Keep Free Checking Despite Costs – Despite an increase in regulation and costs, credit unions are unlikely to abandon free checking anytime soon, according to Michael Moebs, economist and CEO for Moebs $ervices. “Free checking is really a major symbol of the gap between banks and credit unions,” Moebs said. “They’re staying the course with it.”
Age of the freelancer: How a new breed of worker is redefining the 9-to-5 – The traditional 9-to-5 job is starting to fall in the ranks as the most common type of job schedule. Instead, a new breed of worker is rising as the dominant force in the talent pool, willing to work whenever and wherever they are needed.
This shift in how people work developed out of two main things: first, technology has made this type of virtual relationship possible and second, companies and startups began to realize that this arrangement offered significantly more benefits than the traditional employee. Now, terms like “gig economy,” “mobile economy” and “freelance economy” are being thrown around to describe the new way of working.
Call for CFPB to protect credit unions hits 330 signers, and counting – The number of federal legislators calling for the Consumer Financial Protection Bureau (CFPB) to use its authority to protect credit unions hit 330 as of Wednesday, with a final count likely to come by the end of the week. This effort has been fully led by credit unions.
Google’s CFO quit his $5 million job to travel the world. Here’s what he’s doing now. – Even at the edge of the world, Patrick Pichette couldn’t quite escape Google. Earlier this year, Pichette and his wife were preparing to leave Ushuaia, a resort town at the southernmost tip of South America often called “The End of the World,” when he received an e-mail out of the blue from his former boss asking to grab coffee. In Antarctica.
The 5 Biggest Mistakes You Can Make Banking Online – Forgetting to take out the trash. Running late for a date. Leaving dinner in the oven for too long. Most of our goofs have fairly minor consequences. But when it comes to online banking, a simple mistake can have big consequences.
Some $15 billion was stolen from consumers last year, and with new chip technology that’s starting to foil counterfeit card fraud, criminals are out to find other ways to plunder your bank account. What can you do to prevent that? Protecting your financial information and exercising common sense are good places to start.