Santander Bank charged some credit card customers a higher interest rate than they agreed to and could potentially be punished by regulators. Because of those overcharges, the bank has suspended the issuance of new credit cards to customers. No new cards have been issued since March.
This bank owne by Botin family and a good global brand. When they bought Sovereign bank and moved the head quarter to Boston, new generation of bakers took over like a Wolfpack. They had no mercy on employees nor the consumers. They are trying to rebrand but with the same pack in charge, It will not happen unless cost of doing business goes up.
US Bank will close more than 300 branches over the next two years, cutting jobs by up 15 percent. Although the bank says the closures are due to the "changing ways that people get services from financial companies," Bank of America plans to actually add 350 new branches.
What are your thoughts? If consumers are using digital banking more, why are some banks opening hundreds of new branches? Will you be affected by these closures? #BetterBanks buff.ly/2ZtTyWa...
U.S. Bank will close more than 300 branches over the next two years as it adapts to the changing ways that people get services from it and other financial companies, executives said.
AI and robotics automation will triple that number next year. There will be 10000 people working in financial services at the most by 2025.
Automation is what is causing job loss nationwide; it’s not immigrants here or cheap labor in other countries that’s causing it all. It’s that people are comfortable making deposits through an atm or their phone, checking themselves out at groceries stores, and ordering . Even the essientias like TP and soap from amazon.
This as I heard a rumor in the office today. Well alright then...
Banks want to run skeleton crews all the time while constantly demanding more and more