Banking Blog

Friday, February 24, 2012 5:43 pm
By David McMillin · Bankrate.com

As account holders deposit dollars into the nation’s banks, a little social media website appears to be using a different currency. Okay, so it’s not exactly little — it’s Facebook. You know, the site with hundreds of millions of users, massive buzz about its upcoming IPO and now, an official request with the SEC to

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Thursday, February 23, 2012 4:39 pm
By Marcie Geffner · Bankrate.com

A new survey has found that more people are having difficulty saving to meet important financial goals such as responding to an emergency and being able to afford a comfortable retirement. The survey of 1,007 people was commissioned by the Consumer Federation of America, or CFA, American Savings Education Council and Employee Benefit Research Institute.

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Wednesday, February 22, 2012 3:26 pm
By Claes Bell, CFA · Bankrate.com

If you’ve ever had an overdraft fee turn a $2 debit purchase into a $37 debit purchase, you may be glad to know the first action item on the Consumer Financial Protection Bureau’s list when it comes to banking is “courtesy” overdraft programs. At a roundtable with banks and consumer advocacy groups hosted by the

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Sunday, February 19, 2012 10:30 am
By Marcie Geffner · Bankrate.com

The National Endowment for Financial Education, NEFE, a nonprofit organization in Denver, is warning consumers about the pitfalls of so-called debt consolidation loans. A recent online poll, commissioned by NEFE, found that 75 percent of U.S. adults said they had debt and 51 percent said they were worried about the amount they owed. The poll

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Saturday, February 18, 2012 8:10 am
By David McMillin · Bankrate.com

When it comes to keeping your banking information safe, bigger may mean better. A recent webinar sponsored by CUNA Mutual Group discussed the potential for security breaches at the nation’s credit unions, focusing on one key figure from a 2011 Verizon security study: cyber thieves are concentrating on financial service organizations with 10 to 100

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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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