Banking Blog

Saturday, December 31, 2011 10:00 am
By David McMillin · Bankrate.com

With the new year approaching, it looks like banks will need to take extra steps to calm customer fears. In a new survey of bank marketers sponsored by True North Custom Media, 89 percent of respondents indicated that their customers have moderate, growing or high levels of anxiety about the state of their finances. The

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Friday, December 30, 2011 1:59 pm
By Claes Bell · Bankrate.com

It looks like credit unions are taking advantage of an influx of new customers to shore up their balance sheets. Bankrate’s latest Safe & Sound Star Ratings show more credit unions getting the highest possible five-star ratings. Banks and thrifts also showed improvement overall, but fewer got the highest possible rating, according to Greg McBride,

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Friday, December 30, 2011 10:30 am
By David McMillin · Bankrate.com

It looks like banks will begin using a smartphone-based tool to attract your business in the new year: QR. According to Javelin Strategy & Research’s new report on the top 10 trends for 2012, the research company predicts financial institutions will begin to leverage QR, or quick response, codes to attract new customers and engage existing account

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Thursday, December 29, 2011 4:06 pm
By Claes Bell · Bankrate.com

This week, MetLife agreed to sell its online banking operations to General Electric. From Ben Berkowitz and Tanya Agrawal at Reuters: General Electric Co agreed to buy life insurer MetLife Inc’s online bank on Tuesday, in a deal that will let GE’s capital arm expand its funding base and lessen reliance on wholesale markets. The

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Wednesday, December 28, 2011 4:41 pm
By Claes Bell · Bankrate.com

A few weeks ago I blogged about a story by American Banker’s Victoria Finkle on how much free checking costs to provide, and how those numbers reflect on the sustainability of free checking at some large banks. The upshot was that while each checking account customer costs banks an average of $349, but the average

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Wednesday, December 28, 2011 10:00 am
By David McMillin · Bankrate.com

If you use your mobile device for banking, here’s a new term you should know: SMiShing. While I was unfamiliar with this word until today, it’s something you want to avoid. The term is used to describe identity theft attempts via SMS text messages. Some account holders at Fifth Third Bank have been recent targets

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Tuesday, December 27, 2011 10:41 am
By Marcie Geffner · Bankrate.com

Forget about a white Christmas. What consumers really want this year is a black Christmas, according to the nonprofit National Foundation for Credit Counseling, or the NFCC. The idea of a black Christmas is a spin on the term “Black Friday,” which refers to the day after Thanksgiving when retailers traditionally expect their sales figures

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Friday, December 23, 2011 1:30 pm
By Claes Bell · Bankrate.com

Banks will have an extra month to try and influence how regulators will implement the Volcker rule. From Cheyenne Hopkins at Bloomberg: U.S. regulators will extend the comment period for the so-called Volcker rule, giving lawmakers and banks more time to seek changes in the proposed ban on proprietary trading, said a government official familiar

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Friday, December 23, 2011 9:49 am
By David McMillin · Bankrate.com

Some consumers are turning their frustrations with bank fees into legal battles. According to a recent story from the nonprofit credit union national association, or CUNA, one consumer named Don Anderson has filed 13 lawsuits against credit unions and banks for failing to post notices regarding ATM surcharges. Here’s a portion of the story discussing

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Thursday, December 22, 2011 2:25 pm
By Claes Bell · Bankrate.com

It may look like an ATM, but a new machine catching on in Paris dispenses freshly baked baguettes instead of money. From Kim Willsher at The Guardian: But now one entrepreneurial baker has come up with an idea that sounds as sacrilegious as putting Dom Pérignon in wine boxes: selling baguettes in a vending machine.

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