Banking Blog

Monday, October 11, 2010 9:30 am
By Marcie Geffner · Bankrate.com

The National Consumer Law Center, or NCLC, a nonprofit advocacy group, has set out an aggressive agenda for the federal government’s new Consumer Financial Protection Bureau. On the NCLC’s wish list are action items for mortgages, credit cards, overdraft fees, prepaid debit cards, debt collection and more. The items that would take direct hits at

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Thursday, October 7, 2010 4:18 pm
By Claes Bell, CFA · Bankrate.com

Still worried about overdrafts on your checking account, despite recent Federal Reserve rules that require you to opt in to your bank’s overdraft program for debit card purchases and ATM transactions before you can be charged? If so, you’ll be happy to know the Federal Deposit Insurance Corp is planning to further restrict checking account

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Wednesday, October 6, 2010 9:30 am
By Marcie Geffner · Bankrate.com

“Most consumers avoid overdraft fees.” That’s according to the American Bankers Association, or ABA, which recently released a survey of 1,000 people on the subject of overdraft fees. The survey found that 77 percent of those questioned said they hadn’t paid an overdraft fee in the last 12 months. And indeed, it’s probably reasonable to

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Monday, October 4, 2010 11:47 am
By Marcie Geffner · Bankrate.com

121. That’s how many dead banks are now on Bankrate.com’s list of 2010 bank failures. New to the list in September were nine banks: three in Georgia, two in Florida and one each in Washington, Wisconsin, Ohio and New Jersey. Yet there is a silver lining: Despite the woefulness of the bank failures, the pain

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Wednesday, September 29, 2010 10:22 am
By Marcie Geffner · Bankrate.com

5.9 percent — that was the U.S. personal savings rate in July 2010, according to the Bureau of Economic Analysis, or BEA, one of the federal agencies that keeps track of such statistics. That 5.9 percent figure was slightly lower than the 6.2 percent rate the BEA calculated for June 2010 and substantially lower than

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Wednesday, September 29, 2010 10:13 am
By Marcie Geffner · Bankrate.com

Politics aside, it’s easy to like at least some of what President Barack Obama recently had to say in the White House Rose Garden about the mission of the new Consumer Financial Protection Bureau. Here’s an extended excerpt: “Never again will folks be confused or misled by the pages of barely understandable fine print that

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Wednesday, September 15, 2010 12:30 pm
By Marcie Geffner · Bankrate.com

Do the world’s biggest banks need stricter capital requirements to strengthen their viability, discourage risky behavior and reduce the chances of another financial market meltdown? The question may seem far from most banking customers’ lives, but it’s not an academic exercise. In fact, the call for more and better capital is so clear that the Federal

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Friday, September 10, 2010 4:36 pm
By Marcie Geffner · Bankrate.com

Online banking can be wonderful: It’s fast. It’s easy. There’s little or no paper to pile or file. And there’s no need to drive or walk to a bank branch. But, as Constance Gustke reports in “Are online checking accounts for you?” on Bankrate.com, online banking also has some drawbacks, which can include “deposit delays,

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Wednesday, September 8, 2010 5:08 pm
By Claes Bell, CFA · Bankrate.com

The Treasury announced plans last week to create a pilot program that would bring special checking accounts for the unbanked and under-banked — those who, for one reason or another, don’t have checking accounts and operate strictly from cash. Such consumers are often the target of higher fees for check cashing, bill paying and other

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Wednesday, September 8, 2010 12:55 pm
By Marcie Geffner · Bankrate.com

Banking customers who want to save money on fees can take a few tips from the Federal Deposit Insurance Corp., or FDIC, which recently published some tips to help consumers avoid unnecessary fees on their bank savings and checking accounts. The tips are relatively basic, but worthy of a reminder and a monthly checkup, especially

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