Banking Blog

Thursday, December 22, 2011 2:25 pm
By Claes Bell, CFA · Bankrate.com

It may look like an ATM, but a new machine catching on in Paris dispenses freshly baked baguettes instead of money. From Kim Willsher at The Guardian: But now one entrepreneurial baker has come up with an idea that sounds as sacrilegious as putting Dom Pérignon in wine boxes: selling baguettes in a vending machine.

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Thursday, December 22, 2011 10:00 am
By Marcie Geffner · Bankrate.com

A new research paper, “Where’s the Debit Discount?” has concluded debit card swipe fee caps mandated by the Durbin Amendment haven’t resulted in price savings for consumers. The 17-page paper was published by the Electronic Payments Coalition, or EPC, a group of banking industry associations, banks, credit cards and debit payment-processing companies. The paper states

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Wednesday, December 21, 2011 5:06 pm
By Claes Bell, CFA · Bankrate.com

Prepaid debit card provider RushCard is announcing a new type of savings account called RushGoals to help customers save toward goals such as, “vacations, education, gifts, weddings,” according to Rushcards.com, promising rewards for successful savers. From the site: Each month that you have $500 or more in your FDIC protected goal accounts, we will reward

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Wednesday, December 21, 2011 10:00 am
By Marcie Geffner · Bankrate.com

“Where’s my debit discount?” That question is the premise behind a new website, WheresMyDebitDiscount.com, sponsored by the Electronic Payments Coalition, or EPC. The EPC is a group of about 60 banks, banking industry associations, credit unions and payment card networks that handle electronic payments between merchants and consumers. The website claims that retailers promised to

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Tuesday, December 20, 2011 4:53 pm
By Claes Bell, CFA · Bankrate.com

Today the Federal Reserve unveiled part of its proposed rules for regulating “too big to fail” banks and other financial institutions. The 173 pages of rules, called for in the Dodd-Frank financial reform law, are designed to minimize the amount of damage one TBTF institution can do to the economy in the event it goes

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Tuesday, December 20, 2011 3:38 pm
By Claes Bell, CFA · Bankrate.com

It’s clear the banking industry is in a time of transition. A profoundly changed regulatory and economic environment has made it difficult for many banks, especially larger ones, to make money doing business they way they did before the financial crisis. Many national banks have tried to get their checking account offerings back to profitability

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Monday, December 19, 2011 12:40 pm
By Claes Bell, CFA · Bankrate.com

There’s a lot to like about $1 coins. They are more durable than paper money, and they’re easier and cheaper to handle. The only problem is, Americans hate using them. Because of that, the Federal Reserve has literally entire warehouses full of unused $1 coins returned to them by banks because people don’t want them.

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Monday, December 19, 2011 11:12 am
By Marcie Geffner · Bankrate.com

Whistleblowers occupy a precarious position in corporate America. On the one hand, these current or former employees, contractors, vendors and competitors may be traitors to their employers or industries, calling them out for their bad behavior. On the other hand, these same folks can be heroes to consumers, metaphorically blowing that whistle on companies that

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Saturday, December 17, 2011 12:30 pm
By David McMillin · Bankrate.com

Attention members of the banking industry: Consider yourselves warned. While there have been plenty of studies that reveal mobile banking security issues, one source every bank listens to is weighing in on the conversation. The Federal Deposit Insurance Corp.’s latest round of Supervisory Insights includes a section dedicated to the risks and rewards of mobile

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Friday, December 16, 2011 4:50 pm
By Claes Bell, CFA · Bankrate.com

I wrote a little bit about the “gotcha” fee business model of consumer banking this week and the beginnings of a successful movement to bring a standard, simplified fee disclosure form to the banking industry. But while better disclosure is great, it’s really just an improvement at the margins. A lot of account holders will

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