Stagnant spending is not only slowing the overall economic picture but it is also cutting a big revenue driver for banks; interchange fees have dropped significantly and some of that money will not come back when the lockdowns ease; “Though there will be pent-up demand among consumers, there will be some lost interchange revenue,” Jim Ryan, Chairman and CEO of Old National Bancorp, explained to American Banker. “I usually get a haircut every three weeks. I won’t make up for the one or two haircuts that I missed.”; interchange accounts for about 30 percent of the $2.3tn in global payments revenue; while some activity will start to come back as states begin to lessen restrictions, there is a thinking within banks that interchange will continue take a hit through the rest of 2020; “you’ll see the impact of interchange and slower economic activity there, as people are out doing less things and drawing on their accounts less often,” Darren King, CFO of M&T Bank, tells American Banker. American Banker
With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences.
Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.