US banking trade groups want the Consumer Financial Protection Bureau (CFPB) to pause its planned crackdown on the fees, arguing it could lead to overdue bills.

The US banking giant not only eliminated overdrafts, it introduced a lending alternative—charting a course for banks to jettison the controversial fees while continuing to serve those dependent on them.

Shake-ups in the new year will include hyper-personalization, tech companies venturing further into embedded finance, and the prospect of super apps in Western countries.

JPMorgan kept its eye on technology and the crypto trend—no matter what Jamie thought personally: The banking giant’s 2021 featured a UK digital-only launch, fintech acquisitions, crypto offerings for retail clients, and advocating for staff in branches to become licensed advisors.

JPMorgan’s digital-only bank plays in a market with strong neobanks and support for open banking. That could spur globally applicable innovation and best practices for its parent.

McKinsey warns that banks have just 18 to 24 months to revamp their post-recovery business models so they don’t lag in shareholder returns. Partnerships or mergers may offer less costly alternatives.

Overdraft and NSF charges accounted for nearly two-thirds of banks’ fee revenue in 2019. A “range of regulatory interventions” will protect consumers from the heaviest purveyors of the practice.

JPMorgan Chase and Standard Chartered helped turn the cloud-based core banking provider into a unicorn and a credible challenger to the big core banking players.

Eschewing a primary provider deal in favor of keeping both public and private clouds reduces risk to service quality. But this pricey approach only works for big financial institutions.

JPMorgan bumps up against high fintech valuations, tight talent market: The banking giant’s strategy to maintain its competitive standing against fellow incumbents and neobanks in consumer-facing financial products is under pressure.

Canadian mobile penetration and bank access have created a high-potential environment for both proximity and peer-to-peer mobile payments. But entrenched payment habits and monopolization have created a slow growth environment that will force providers to adapt.

The bank’s plans to overhaul its mobile app and AI assistant could help it gain customers and offer an improved user experience.

BofA, Chase, Citi, and Wells Fargo notched growth above 20% thanks to economic improvements and new and revamped card products.

Tech costs in this week’s reports will receive close scrutiny for potential earnings drag. Even if they do, the spending is necessary to fend off digital-only competitors.

The bank’s grace period feature helps customers avoid the charges and an upcoming checking account excludes them. But the bank must make up for the lost revenue.

After a leadership change and multiple delays, the tech giant won’t offer co-branded bank accounts through its digital wallet. But its Plan B could be a problem for banking as a service firms.

In the increasingly crowded US buy now, pay later (BNPL) space, the convenience of Upgrade’s single-invoicing feature could catch consumers’ attention.

A financial planning platform for students will offer valuable tools to 17- to 24-year-olds and may win their long-term loyalty and retention.

While commission-free trading isn’t unique, bundling it with crypto and savings features will increase the time the UK-based neobank’s US customers spend with it.