Banking Blog

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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Thursday, December 15, 2011 5:33 pm
By David McMillin · Bankrate.com

An Illinois teenager and his mother learned their lessons with bank fees the hard way. In a recent story in the Chicago Tribune, Jon Yates reported that 18-year-old Daniel Ganziano managed to rack up nearly $230 worth of fees in a matter of days at TCF Bank. The catch: he wasn’t even spending money. Here’s

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Thursday, December 15, 2011 4:15 pm
By Claes Bell, CFA · Bankrate.com

A few weeks ago I wrote about a Pew Health Group project to establish a sort of bill of rights for debit card users. I’m happy to report that at least part of that effort — simplifying bank disclosures — is beginning to catch on. Several financial institutions, including Chase, North Carolina State Employee’s Credit

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Thursday, December 15, 2011 12:00 pm
By Marcie Geffner · Bankrate.com

Online and mobile banking might be all the rage, but young people still conduct banking transactions at bank branches as well. That’s according to a recent report, “Maximizing Financial Relationships with Gen Y,” by Synergistics Research, a financial services marketing research company in Atlanta. The report found that branches and ATMs still account for a

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Wednesday, December 14, 2011 11:00 am
By Claes Bell, CFA · Bankrate.com

According to one banking industry analyst, on average, banks are losing money on free checking accounts, and are predictably unsuccessful at making it up in volume. From Victoria Finkle at American Banker: The average checking account cost banks $349 in 2011, says Mike Moebs of Moebs Services Inc., a research firm. But the average revenue

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