Banking Blog

Friday, January 13, 2012 4:30 pm
By David McMillin · Bankrate.com

Here’s some good news for the financial industry: fewer banks failed in 2011. Last year, the final tally for bank failures did not break the triple-digit mark, a statistic that seems to indicate a positive trend for the banking industry. Here’s a breakdown of how the banking industry has fared over the past four years.

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Friday, January 13, 2012 4:26 pm
By Claes Bell, CFA · Bankrate.com

Suze Orman is taking considerable flack over the prepaid debit card she introduced this week. Phillip Taylor of PT Money in particular took exception to Orman’s idea that the card should be a permanent replacement for a checking account, insisting a checking account at a responsible bank or credit union is always a better choice.

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Wednesday, January 11, 2012 1:30 pm
By David McMillin · Bankrate.com

Some crafty criminals are aiming to steal one of the most valuable pieces of your personal property: your banking information. In a new warning, the Federal Bureau of Investigation warns account holders of a new spam email scheme that involves a type of malware called “Gameover.” The scheme involves fake emails from the National Automated

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Wednesday, January 11, 2012 11:49 am
By Claes Bell, CFA · Bankrate.com

If you follow this blog with any regularity, you know I’ve been writing a lot lately about prepaid debit cards, which are increasingly becoming a challenger to traditional checking accounts. I caught up with RushCard CEO Rob Rosenblatt this week to give him a chance to respond to my criticism of its new RushGoals savings

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Tuesday, January 10, 2012 4:28 pm
By Claes Bell, CFA · Bankrate.com

Looks like personal finance celebrity Suze Orman will be joining Russell Simmons, the cast of Twilight and Lil Wayne in introducing a branded prepaid debit card. Orman’s Approved Card is much like the other entrants in the market, providing the ability to make debit card transactions without a conventional checking account, and charging a la

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Tuesday, January 10, 2012 9:50 am
By Marcie Geffner · Bankrate.com

If last year’s holiday season blew a hole in your budget, January could be the ideal time for you to start saving for this year’s gifts and festivities. One way to do that is to open a Christmas club account, according to Katherine Hutt, a spokeswoman at the national Council of Better Business Bureaus, or

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Monday, January 9, 2012 10:42 am
By Marcie Geffner · Bankrate.com

The Gen X and Gen Y generations are saving more rigorously for their retirement years than are their mature grandparents or boomer parents. That’s according to a new survey from TD Ameritrade, a stock brokerage company in Omaha, Neb. Eighty-five percent of those surveyed said they have an Individual Retirement Account, or IRA, 401(k) or 403(b)

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Friday, January 6, 2012 11:53 am
By Claes Bell, CFA · Bankrate.com

Should the U.S. remove the $250,000 limit on FDIC insurance, in order to give corporations and wealthy investors access? That’s one of the ideas advanced by Amar Bhide in the New York Times this week in an op-ed on how to prevent freeze-ups in global capital markets. Bhide wants to prevent runs on the so-called

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Tags: Banking, banks, FDIC
Friday, January 6, 2012 11:22 am
By David McMillin · Bankrate.com

As the one-week anniversary of the New Year approaches, it looks like more consumers will be working to boost their savings accounts in 2012. According to a Fidelity Investments study released in late 2011, 42 percent of respondents have personal finance resolutions this year, and most of those goals rely on more saving, less spending and

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Thursday, January 5, 2012 11:00 am
By Marcie Geffner · Bankrate.com

Class-action lawsuits alleging violations of ATM fee disclosure notices aren’t new. But now, the Credit Union National Association, or CUNA, is urging the federal Consumer Financial Protection Bureau, or CFPB, to suspend one of the notice requirements to stop the lawsuits. At issue is the federal Electronic Fund Transfer Act, which requires ATM operators, such as

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