Banking Blog

Wednesday, February 1, 2012 3:52 pm
By Claes Bell, CFA · Bankrate.com

It looks like a high school in Naples, Fla., is taking a really cool approach to teaching job skills and personal finance savvy to students: opening an in-school credit union branch. From the Naples Daily News: Math teacher Nancy DeFurio asked Suncoast to start a Naples student branch after seeing something similar in New York.

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Wednesday, February 1, 2012 3:00 pm
By Marcie Geffner · Bankrate.com

Valentine’s Day is supposed to be about romance. But for some sad lonely hearts, the holiday turns out to be a financial scam, rather than true love. Indeed, social media and online dating frauds are so widespread that the national Better Business Bureau included the category in its list of the Top Ten Financial Scams

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Tuesday, January 31, 2012 4:54 pm
By Claes Bell, CFA · Bankrate.com

We may be finally coming to the end of the instability that wracked the American banking system. As my colleague David McMillan blogged earlier this month, the FDIC’s numbers for bank failures were way down in 2011. On top of that, last month, the FDIC’s board cut the 2012 operating budget for the organization by

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Saturday, January 28, 2012 11:30 am
By David McMillin · Bankrate.com

If you’re deciding between between banks and credit unions for your money management, here’s a stat from Wisconsin that may sway your decision to the nonprofit side: The average household saves $164 annually by using a credit union. In a report titled “REAL Solutions Scorecard for Wisconsin Credit Unions,” the Wisconsin Credit Union League analyzed

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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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