Banking Blog

Wednesday, January 11, 2012 11:49 am
By Claes Bell · Bankrate.com

If you follow this blog with any regularity, you know I’ve been writing a lot lately about prepaid debit cards, which are increasingly becoming a challenger to traditional checking accounts. I caught up with RushCard CEO Rob Rosenblatt this week to give him a chance to respond to my criticism of its new RushGoals savings

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Tuesday, January 10, 2012 4:28 pm
By Claes Bell · Bankrate.com

Looks like personal finance celebrity Suze Orman will be joining Russell Simmons, the cast of Twilight and Lil Wayne in introducing a branded prepaid debit card. Orman’s Approved Card is much like the other entrants in the market, providing the ability to make debit card transactions without a conventional checking account, and charging a la

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Tuesday, January 10, 2012 9:50 am
By Marcie Geffner · Bankrate.com

If last year’s holiday season blew a hole in your budget, January could be the ideal time for you to start saving for this year’s gifts and festivities. One way to do that is to open a Christmas club account, according to Katherine Hutt, a spokeswoman at the national Council of Better Business Bureaus, or

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Monday, January 9, 2012 10:42 am
By Marcie Geffner · Bankrate.com

The Gen X and Gen Y generations are saving more rigorously for their retirement years than are their mature grandparents or boomer parents. That’s according to a new survey from TD Ameritrade, a stock brokerage company in Omaha, Neb. Eighty-five percent of those surveyed said they have an Individual Retirement Account, or IRA, 401(k) or 403(b)

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Friday, January 6, 2012 11:53 am
By Claes Bell · Bankrate.com

Should the U.S. remove the $250,000 limit on FDIC insurance, in order to give corporations and wealthy investors access? That’s one of the ideas advanced by Amar Bhide in the New York Times this week in an op-ed on how to prevent freeze-ups in global capital markets. Bhide wants to prevent runs on the so-called

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Tags: Banking, banks, FDIC
Friday, January 6, 2012 11:22 am
By David McMillin · Bankrate.com

As the one-week anniversary of the New Year approaches, it looks like more consumers will be working to boost their savings accounts in 2012. According to a Fidelity Investments study released in late 2011, 42 percent of respondents have personal finance resolutions this year, and most of those goals rely on more saving, less spending and

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Thursday, January 5, 2012 11:00 am
By Marcie Geffner · Bankrate.com

Class-action lawsuits alleging violations of ATM fee disclosure notices aren’t new. But now, the Credit Union National Association, or CUNA, is urging the federal Consumer Financial Protection Bureau, or CFPB, to suspend one of the notice requirements to stop the lawsuits. At issue is the federal Electronic Fund Transfer Act, which requires ATM operators, such as

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Wednesday, January 4, 2012 2:58 pm
By Claes Bell · Bankrate.com

A year and half after the passage of Dodd-Frank created the Consumer Financial Protection Bureau, it will finally have a director. President Barack Obama today announced he would bypass the Senate through a recess appointment to put former Ohio Attorney General Richard Cordray at the head of the CFPB. Senate Republicans had refused to put

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Wednesday, January 4, 2012 10:30 am
By Marcie Geffner · Bankrate.com

Losing weight, exercising more and giving up cigarettes are good New Year’s resolutions. But what many people should have at the top of their 2012 to-do list is a promise to get out of debt and start living a financially healthier lifestyle. That’s according to the National Endowment for Financial Education, or NEFE, a Denver-based nonprofit

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Tuesday, January 3, 2012 4:47 pm
By Claes Bell · Bankrate.com

If you’re a bank customer frustrated by declining perks and rising fees, you might think banks and their stockholders are raking in the dough, but that’s not actually the case. Jack Hough of The Wall Street Journal published his outlook for big bank stocks in 2012, and it’s not looking great: “Banks have much more

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