Banking Blog

Saturday, February 18, 2012 6:00 am
By Marcie Geffner · Bankrate.com

A sizable number of bank customers are “double-dipping” when it comes to paper and electronic account statements. Nearly 30 to 40 percent of bank customers who get electronic statements online also continue to receive paper duplicates by U.S. mail as well, according to a new study by Javelin Strategy & Research, released by NACHA –

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Friday, February 17, 2012 12:41 pm
By Claes Bell, CFA · Bankrate.com

It looks like community banks are finally starting to realize the federal government’s regulatory tightening on systematically important financial institutions is actually going to help them. If you’ll recall, last year, then-FDIC chairman Sheila Bair was heckled at a gathering of mostly community bankers organized by the American Bankers Association in San Diego Washington, D.C.

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Friday, February 17, 2012 11:00 am
By David McMillin · Bankrate.com

We’ve heard plenty of complaints about the burdens banks are facing due to new financial regulation, but a new study shows that some financial institutions are creating their own cost hurdles with outdated communication methods. A recent Varolli Corporation survey of more than 1,000 banking executives reveals a disconnect between how the banking industry reaches

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Thursday, February 16, 2012 5:10 pm
By Claes Bell, CFA · Bankrate.com

It’s no accident that moving your checking account can be kind of a pain. As I’ve pointed out on this blog before, banks promote direct deposit and bill pay in part because it makes switching banks much more difficult. Would-be bank switchers have to coordinate moving over their various direct deposits and automatic bill payments

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Wednesday, February 15, 2012 5:34 pm
By Claes Bell, CFA · Bankrate.com

Last week I wrote about the Fed’s delayed decision on whether to approve Capital One’s purchase of saver favorite ING Direct. Well, it turns out it was more foot-dragging than it was a real sign of trouble for the deal. Yesterday the Federal Reserve agreed to give its blessing to the deal. As I noted

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Monday, February 13, 2012 9:00 am
By Marcie Geffner · Bankrate.com

A majority of U.S. consumers who are struggling with their personal finances might have overlooked a nice opportunity to set aside a little extra in savings last year. That’s one conclusion that could be drawn from a recent online survey of nearly 1,800 people by the National Foundation for Credit Counseling, or NFCC, a national

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Saturday, February 11, 2012 9:00 am
By David McMillin · Bankrate.com

If you’re a regular reader, you may remember an earlier post about the rise of ATM lawsuits and the consumers who have been waging a war against some financial institutions for failure to post signs about out-of-network fees. Well, banks and credit unions have joined forces with the Electronic Funds Transfer Association to fight back.

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Friday, February 10, 2012 4:42 pm
By Claes Bell, CFA · 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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