As the holiday season approaches there are three choices:
Christmas of Dreams, Christmas of Means, or Scrooge.
Why? The consumer has $2.2 Trillion in excess checking dollars: Spend, Save, or Invest?
Read how the holidays will dictate the level of recession and inflation – see below.
Your comments, positive, negative, or exceptional are wanted.
As Halloween is upon us scary things came out of Washington DC this past week.
The CFPB and the White House labeled overdrafts “surprise, junk fees” on deposit accounts.
The article below outlines solutions to make more revenue with what Washington D.C. is suggesting.
Oh, and let’s put the consumer first by lowering fees.
Your comments: positive, negative, and exceptional are wanted.
CU Today publication took a different perspective than the M$ original report sent you yesterday.
Reminds me of taking a road racing Jaguar for a spin on the country roads of Great Britain, and reading the manual on windscreen wipers, “. . . and the fourth setting is for motoring in the rain in excess of 120 mph.”
In March, 1992 overdrafts started in earnest with a front page story in the New York Times of a latte costing over $30.
In the past two years overdrafts have dropped dramatically in price. Why? Read this article and find out.
Moebs $ervices has taught how to price not what to charge for ODs in its Pricing Institute to over 10,000 executives worldwide.
We welcome your comments and suggestions good, bad, and exceptional.
Overdrafts are not Junk Fees nor Surprise Fees.
Overdrafts are seat belts for the Checking Car for the Average American.
Your comments and questions are welcomed.
It is not assets that rule the depository businesses. It is having 1,000,000 or more consumer checking accounts, i.e., transaction accounts, or T-Accts for short.
“Tyrannosaurus Rex was the largest and most fearsome dinosaur of all time. BiG Checking has 28 financial institutions (FIs) with 1 Million or more T-Accts. – these are the T-Rexes of financial services,” states Michael Moebs, Economist & CEO of Moebs $ervices (M$) a financial service economic research firm.
Payday Lenders are big business targeting your consumer overdrafts.
Under a $200 daily overdrawn amount their price is lower than most depositories.
After reading the story, your views are important to us.
OD Revenue Increase Yet Not to Pre-COVID Levels
"When times are good the consumer overdraws more. When times are bad overdrafts happen less"
G. Michael Mobs, Pricing Financial Services, copyright 1986, current edition.
This is a summary of how overdrafts have dramatically changed with COVID:
Walmart is the dominant consumer checking portfolio.
At 101 Million Checking accounts Walmart has 33M more checking than Number Two, Bank of America!
Read below how this happened, what Walmart offers and how to beat them.
The following report will outline in detail how financial services has dramatically changed since COVID started in 2019.
There is more information via the email shown later in the report.
If financial institutions do not change soon Walmart will take over checking accounts in USA.
Do Payday Lenders deserve the bad rap they have?
Why are millions of Americans going to Payday Lenders?
Are Banks and Credit Union Fees from Overdrafts in Trouble?
Read the answers.
How can you determine a fee price especially with inflation?
Do what the Europeans, Canadians, and Australians do – Use McDonald’s Quarter Pounder w/Cheese.
This article shows you how and why.
The Million+ Checking Club is growing and is now 31 financial institutions (FIs).
Can David (FIs < Million Accounts) beat Goliath (FIs > Million Accounts)?
Goliath is more than 74% of all checking accounts. Read how David can win.
No one has ever ranked all the Federal Reserve Chairs performance.
The Great Depression was caused by a large depression in the money stock.
This report grades the Fed Chairs by their monetary performance.
Your comments are invited.
The economy of scale (EOS) is complex. Moebs $ervices has a patent pending on EOS.
Calculating a diseconomy of scale is the way to properly measure EOS.
This report explains EOS and shows a shadow EOS.
Comments always welcomed.
What follows is Moebs $ervices Study on The Evolution of Overdrafts done in two parts. This is Part II – the Overdraft Solution. Part I – the History of Overdrafts was provided in the previous issue.
If you would like a copy of the full study email Tracy@Moebs.com.
The result would be:
678.2 Million debit cards purchases of gas, groceries, dentist, etc., would be declined.
60 Million Americans’ ACH payments returned NSF for cell phones, auto loans, mortgages, etc.
$33.4 Billion of overdraft revenue would not be charged the consumer.
111,000 financial institution employees would lose their jobs.
23 States have not changed limits on overdrafts in 24 years.
With compliance risk looming, is this lack of consumer concern smart?
Read how moving OD limits can reduce compliance risk, increase profits, and be consumer friendly.
“Statistically, the average and median make the OD price standout,” notes Michael Moebs, economist & CEO of Moebs $ervices, the economic research firm who has done the largest and only statistical survey of bank fees for 36 years.
I encourage your deeback and comments.
Walmart and Bank of America are taking over the checking and overdraft business.
These two institutions have 31% of the nation’s checking business now.
Read the story below then email, text, or call with any questions.