Banking Blog

Friday, January 27, 2012 11:00 am
By Claes Bell, CFA · Bankrate.com

How bad was the debit card “fee-asco” for banks? It depends on who you ask. In November, the Credit Union National Association released a statement that they their member credit unions had picked up 650,000 new members between Sept. 29 and Nov. 2. A few weeks later, though, they had to revise their figures down

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Friday, January 27, 2012 9:00 am
By David McMillin · Bankrate.com

As the banking industry works to determine how to increase profits, it appears the answer may lie in an obvious place: the Internet. In a new survey of more than 3,000 consumers around the world, the majority of account holders indicated they are are willing to pay around $15 each month for digital banking services.

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Tags: bank, Banking, pwc
Thursday, January 26, 2012 3:23 pm
By Marcie Geffner · Bankrate.com

Anyone who still thinks big U.S. banks are hurting financially might want to take a look at the latest earnings reports from the biggest of the super bigs. Although the income wasn’t all that equal, even the smallest pie was more than $1 billion. Here, with numbers and comments, from the banks’ press statements is

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Thursday, January 26, 2012 7:00 am
By Claes Bell, CFA · Bankrate.com

The outcome of the banks vs. merchants public relations battle over the Durbin Amendment is now clear. To paraphrase one Jeffrey Lebowski, “Condolences! The banks lost!” According to a new Javelin study, Americans actually believe Durbin benefited the banks: Even though new debit card regulations have significantly decreased the revenue offset for maintaining checking account

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Wednesday, January 25, 2012 1:39 pm
By Marcie Geffner · Bankrate.com

Payday lenders are in the spotlight — and not in a good way. The Consumer Financial Protection Bureau, or CFPB, now up and running with its new director, recently convened its first-ever field hearing to collect intel on the industry. Held in Birmingham, Ala., the hearing coincided with the publication of a new CFPB field

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Wednesday, January 25, 2012 12:36 pm
By Marcie Geffner · Bankrate.com

Consumers who remit money to people in foreign countries will soon get more information about the exchange rate and fees associated with their transactions, thanks to a new rule adopted by the federal Consumer Financial Protection Bureau, or CFPB. According to a CFPB statement, the new rule requires companies that handle international money transfers to disclose

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Saturday, January 21, 2012 9:00 am
By David McMillin · Bankrate.com

You know that horrible feeling when you realize your debit card is not in your wallet? Or on your desk? Or anywhere? Texas-based City Bank – not to be confused with another, bigger member of the banking industry – recently debuted a new security feature to help make that scenario less of a nightmare for its customers.

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Friday, January 20, 2012 10:00 am
By David McMillin · Bankrate.com

Haven’t started banking from your smartphone yet? Let’s see how long that lasts. According to a new report from UK-based mobile analyst firm Juniper Research, the number of mobile banking users will grow to 530 million by 2013. That’s quite the leap. The study estimates there were just more than 300 million users in 2011.

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Thursday, January 19, 2012 4:49 pm
By Claes Bell, CFA · Bankrate.com

It’s not unusual for banks to form partnerships with sports teams, celebrities and colleges to promote their services to fans. But a Wisconsin bank is looking for a novel endorsement to sign up customers for its savings, checking and CDs: a Wisconsin school district. Associated Bank is partnering with the Neenah Joint School District for

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Tuesday, January 17, 2012 3:39 pm
By Claes Bell, CFA · Bankrate.com

Withdrawing money an ATM not owned by your bank has never been cheap. But now, ATM providers have new way to make sure they maximize the fees you pay for withdrawals. From Felix Salmon of Reuters: Paul Volcker likes to say that the only worthwhile financial innovation of the past 20 years has been the

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