Banking Blog

Since Dodd-Frank took effect, being a “Too Big to Fail” bank isn’t quite what it used to be, I guess. From Shannon Bond at the Financial Times: Moody’s downgraded the credit ratings of Bank of America, Citigroup and Wells Fargo, three of the biggest US banks, over concerns that the US government would be less

Sick of carrying around actual plastic debit cards from your bank? Can’t wait to join the brave new world of smartphone-based point-of-sale payments? This is your week. Google began uploading its new Google Wallet app to Sprint Nexus S phones, which run the company’s Android operating system. The app will allow Nexus S owners to

With debit card fees on the rise, it looks like checking accounts and banking relationships are going to start getting a little more attention from consumers. After all, if there’s one thing Americans hate, it’s being charged for something that used to be free. Sure, we don’t mind buying something “premium” that used to be

Are banks making savings and checking accounts synonymous with Twitter and Facebook profiles? If some members of the financial industry get their way, the social media revolution may change the way you talk to your bank. “American Banker and Bank Technology News” highlighted this trend with the inclusion of Citi’s SVP of social media, Frank

While many believe that the nation’s largest banks are too big to fail, the Federal Deposit Insurance Corp., or FDIC, is sending a message to American financial giants: be ready for the unthinkable. Earlier this week, the FDIC approved a new rule that will require institutions with $50 billion or more in assets to regularly

The Great Recession has been a harsh reality for today’s 20-somethings, who’ve begun their adult lives during economic hard times. The pain starts when these young people cross into their second decade of life and worsens as they age, based on findings of a recent online survey of 2,000 young adults by Pittsburgh-based PNC Financial

It looks like thieves are increasingly using alternative payment systems like PayPal, rather than debit cards issued by banks, to defraud merchants online. Daniel Wolfe has an interesting article in American Banker this week highlights a Javelin Strategy & Research Study that finds debit cards’ role in online fraud is decreasing: Merchants that accept alternative

This week Bank of America became the latest large bank to announce mass layoffs in an attempt to cut costs and improve profitability. From Dan Fitzpatrick at The Wall Street Journal: Bank of America Corp. Chief Executive Brian Moynihan announced a $5 billion cost-pruning plan that includes 30,000 job cuts. Bank of America will cut

Ever feel a little bit afraid to drive across a new or newly repaired bridge? That’s probably how the Fed is feeling a little bit right now when it comes to testing out a new banking regulation. Capital One’s proposed merger with ING and HSBC is providing the first big test of a Dodd-Frank measure

No matter how old you are, leaving your house to take care of your banking needs seems so last year. The results of a new American Bankers Association survey show that the majority of older Americans now prefer online banking versus visiting a branch, using the mail or any other method. While younger consumers were