Orla McCaffrey
The Wall Street Journal
- Binghamton, New York, United States
- Orla_McCaffrey
- in/orlaith-mccaffrey/
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- People Aren’t Visiting Branches. Banks Are Wondering How Many They Actually Need.7 Jun 2020—The Wall Street JournalPeople are visiting bank branches less frequently during the coronavirus pandemic. That could speed up some banks’ plans for shutting them down. Branch traffic fell more than 30% in April and the first three weeks of May compared with the same period last year, according to Novantas, a financial-services research firm. Teller transactions dropped 32% in March and April compared with the same period last year, Novantas said. The...
- Bank Stocks Fall After Fed Projects No Rate Increases — Update11 Jun 2020—morningstar.comGlobal and U.S. bank stocks fell Thursday, a day after Federal Reserve officials highlighted the coronavirus pandemic's potential to weaken the U.S. economy over the long term. Shares of Citigroup Inc., Bank of America Corp., Wells Fargo & Co. and Goldman Sachs Group Inc. closed down between 9% and 13%. The Fed's prediction that some damage to the labor market could last for years, coupled with projections that the economy could shrink as much as 10% this year, pushed financial stocks, often...
- The Economy Is in Disarray. But Borrowers Aren’t Getting Home-Equity Lines.18 Jun 2020—The Wall Street JournalMillions of Americans are out of work. But for many, tapping their home equity isn’t an option. New home-equity lines of credit dropped 19% from March through May compared with the same time last year, according to preliminary data from credit-reporting firm Equifax Inc. Many lenders are getting stricter about offering the credit lines, known...
- Borrower, Beware: Credit-Card Fraud Attempts Rise During the Coronavirus Crisis27 May 2020—The Wall Street JournalFraudsters are increasingly using pilfered credit-card numbers and phishing attacks to prey on overwhelmed consumers and banks during the coronavirus pandemic. There has been a big jump in attempted credit- and debit-card fraud since coronavirus shut down the U.S. economy earlier this year, according to Fidelity National Information Services Inc., known as FIS, which assists about 3,200 U.S. banks with fraud monitoring. The dollar volume of attempted fraudulent transactions rose 35% in April...
- How to Protect Yourself From Card Fraud27 May 2020—The Wall Street JournalPhoebe Flanigan received a text message in April from Wells Fargo & Co. that warned of suspicious purchases on her debit card. When the New York City resident logged into her account, she saw that dozens of purchases had been made in Brazil. Ms. Flanigan is among the 11 million or so Americans who fall victim to credit- and debit-card fraud each year, according to Javelin Strategy & Research, a consulting firm. Fraud attempts are on the rise during the coronavirus pandemic, according to...
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