Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Mobile banking app operators sued by FTC
The Federal Trade Commission has filed a complaint alleging that Beam Financial Inc. and its founder and CEO Yinan Du, also known as Aaron Du, the operators of a mobile banking app, promised users of their free mobile banking app that they could make transfers out of their accounts and would receive their requested funds within three to five business days. Instead, some users waited weeks or even months to receive their money despite repeated complaints to Beam, while others said they never received their money, according to the complaint. In addition to making it difficult for consumers to access their funds, Beam also failed to give users the high interest rates the company promised, the Commission alleges. Beam repeatedly claimed that users would receive “the industry’s best possible rate” of at least 0.2 percent or 1.0 percent, according to the complaint. In fact, many new users received a much lower interest rate of 0.04 percent and stopped earning any interest after requesting that Beam return their funds.
- FTC press release