Banking Blog

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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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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