Banking Blog

Friday, February 10, 2012 4:42 pm
By Claes Bell · Bankrate.com

Even before Suze Orman released her “Approved Card,” John Ulzheimer, president of consumer education at SmartCredit.com, was a fierce critic of prepaid debit cards. But having a high-profile personal finance personality like Orman endorse prepaid cards as an alternative to traditional checking accounts and credit cards touched off a barrage of criticism from Ulzheimer and

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Friday, February 10, 2012 3:00 pm
By Naomi Mannino · Bankrate.com

Todd Schnitt of The MJ Morning Show told listeners Thursday morning he was targeted in a “smishing” (SMS  phishing) scam. The host of the Tampa, Fla., radio show says he received a text message (also known as an SMS or short message service) Wednesday from an unverified sender with a 917 area code. It contained an

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Friday, February 10, 2012 10:00 am
By David McMillin · Bankrate.com

Despite the migration toward credit unions over the past few months, big banks are still beating their nonprofit competitors in one crucial category: technology. In a recent Credit Union Times article, Robert McGarvey cites a Javelin Strategy & Research report to highlight the mobile banking gap between account holders at big banks and those at

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Wednesday, February 8, 2012 5:16 pm
By Claes Bell · Bankrate.com

Savers upset about the sale of ING Direct to Capital One may have reason to hope. The Federal Reserve Board was supposed to hold a vote on whether to approve the sale today, but the vote was delayed, suggesting there might be some dissent among the Fed governors on how to proceed. For its part,

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Wednesday, February 8, 2012 2:54 pm
By Marcie Geffner · Bankrate.com

If your bank closed or sold some of its branches last year, you weren’t alone. In fact, the total number of bank branches in the U.S. declined in 2011, after years during which the number of bank locations expanded. Still, the drop in branch locations didn’t stop some banks from expanding their reach or adding

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Tuesday, February 7, 2012 2:56 pm
By Claes Bell · Bankrate.com

JPMorgan Chase became the latest bank to settle a nationwide suit concerning the infamous “courtesy” overdraft fees. From Jonathan Stempel of Reuters: JPMorgan Chase & Co has agreed to pay $110 million to settle consumer litigation accusing it of charging excessive overdraft fees. The largest U.S. bank by assets joined Bank of America Corp and

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Monday, February 6, 2012 11:28 am
By Marcie Geffner · Bankrate.com

Call it the battle of the bank brands. A new report ranking the world’s most valuable brand names among banks has named HSBC as the holder of the top spot on a list of 500 bank brands. The only British bank among the list’s top 10, HSBC leapfrogged Bank of America and Wells Fargo, which

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Saturday, February 4, 2012 10:55 am
By David McMillin · Bankrate.com

If you’re guilty of overdrawing your checking account, one bank is introducing a choice for how you pay when they cover for your purchases. TCF Bank announced yesterday that it will begin offering account holders the ability to choose between two types of overdraft protection: a per-item fee of $37 and a per-day fee of

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Friday, February 3, 2012 3:00 pm
By David McMillin · Bankrate.com

Imagine if each of your friends on Facebook and followers on Twitter played a role in your banking experience. By the middle of this year, a new type of bank hopes to make that a reality. MovenBank, a new type of institution set to launch in mid-2012, wants to change the way you pay for

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Friday, February 3, 2012 10:00 am
By Claes Bell · Bankrate.com

I’ve been writing a lot about prepaid debit cards recently, much of it critical, echoing some of the same issues many in the financial press have with prepaid cards, including relatively high fees, limited features and a lack of meaningful savings accounts. But I do believe prepaid cards represent both an increasingly popular alternative to

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