Banking Blog

Consumers who are fed up with aggressive debt collection activities and error-ridden credit reports might be cheered to learn the federal government is set to supervise a number of so-called nonbank financial companies that offer such services.
Specifically, the Consumer Financial Protection Bureau, or CFPB, has announced a proposed rule that would bring the biggest debt

Despite the decrease in bank failures last year, a recent voter survey conducted by the Credit Union National Association shows that more consumers believe credit unions are safer than banks. When asked what type of institution was the most financially safe and sound, here’s how voters responded:

Credit unions — 40 percent.
Banks — 34 percent.
Both –

As account holders deposit dollars into the nation’s banks, a little social media website appears to be using a different currency.
Okay, so it’s not exactly little — it’s Facebook. You know, the site with hundreds of millions of users, massive buzz about its upcoming IPO and now, an official request with the SEC to use

A new survey has found that more people are having difficulty saving to meet important financial goals such as responding to an emergency and being able to afford a comfortable retirement.
The survey of 1,007 people was commissioned by the Consumer Federation of America, or CFA, American Savings Education Council and Employee Benefit Research Institute. The

If you’ve ever had an overdraft fee turn a $2 debit purchase into a $37 debit purchase, you may be glad to know the first action item on the Consumer Financial Protection Bureau’s list when it comes to banking is “courtesy” overdraft programs.
At a roundtable with banks and consumer advocacy groups hosted by the Roosevelt

The National Endowment for Financial Education, NEFE, a nonprofit organization in Denver, is warning consumers about the pitfalls of so-called debt consolidation loans.
A recent online poll, commissioned by NEFE, found that 75 percent of U.S. adults said they had debt and 51 percent said they were worried about the amount they owed.
The poll of 2,525

When it comes to keeping your banking information safe, bigger may mean better.
A recent webinar sponsored by CUNA Mutual Group discussed the potential for security breaches at the nation’s credit unions, focusing on one key figure from a 2011 Verizon security study: cyber thieves are concentrating on financial service organizations with 10 to 100 employees.
“Credit

A sizable number of bank customers are “double-dipping” when it comes to paper and electronic account statements.
Nearly 30 to 40 percent of bank customers who get electronic statements online also continue to receive paper duplicates by U.S. mail as well, according to a new study by Javelin Strategy & Research, released by NACHA – The

It looks like community banks are finally starting to realize the federal government’s regulatory tightening on systematically important financial institutions is actually going to help them.
If you’ll recall, last year, then-FDIC chairman Sheila Bair was heckled at a gathering of mostly community bankers organized by the American Bankers Association in San Diego Washington, D.C. Bair

We’ve heard plenty of complaints about the burdens banks are facing due to new financial regulation, but a new study shows that some financial institutions are creating their own cost hurdles with outdated communication methods.
A recent Varolli Corporation survey of more than 1,000 banking executives reveals a disconnect between how the banking industry reaches customers