Banking Blog

Saturday, November 5, 2011 12:30 pm
By David McMillin · Bankrate.com

While you may already be conducting some of your banking online, one company is hoping to help you do, well, pretty much everything without signing, sending or storing a single piece of paper. Today, Doxo, a digital file storage and e-payment company, announced additional features for its doxoPAY function that give users more control over

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Friday, November 4, 2011 3:03 pm
By Claes Bell · Bankrate.com

It looks like despite backtracking from big banks on their plans to introduce debit card fees, Bank Transfer Day and customers fed up with fees are having an impact on the banking industry. The Credit Union National Association, known as CUNA, gave word this week that 5,000 of the nation’s credit unions had signed up

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Friday, November 4, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

Bank Transfer Day makes a darn good headline. But in fact, most consumers are extremely, very or at least somewhat likely to continue their existing relationship with their primary bank or credit union, according to a recent online poll of 2,463 adults by Harris Interactive. Only 3 percent of respondents said they weren’t at all

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Friday, November 4, 2011 9:00 am
By Marcie Geffner · Bankrate.com

To the victors goes the gloating. Bank of America has backed off its plan to charge a $5 monthly fee for debit card use. And now, Molly Katchpole, a consumer who started a national petition against the fee, and the Credit Union National Association (CUNA), a trade group that represents credit unions, are twisting the stake

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Thursday, November 3, 2011 3:56 pm
By Claes Bell · Bankrate.com

Just a few days after several big banks bowed to customer outrage and eliminated new debit card fees, banks are facing criticism on another front. Some policy think tanks and government officials are starting a new push to get all banks to come clean on fees. Sens. Dick Durbin, D-Ill., and Jack Reed, D-R.I., held

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Wednesday, November 2, 2011 4:38 pm
By Claes Bell · Bankrate.com

Word this week that Filene’s Basement, the popular Massachusetts-based discount store and one of the last remnants of the department store empire of Edward Filene, will be closing its doors in 2012. The store was famous for its literally bargain-basement prices and door-busting sales of wedding gowns. Why am I writing about a discount clothing

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Tuesday, November 1, 2011 4:19 pm
By Greg McBride, CFA · Bankrate.com

Earlier this week, we released the findings from our October Financial Security Index poll. Only 11 percent of Americans, roughly 1 in 10, are more comfortable with the savings they have now, compared to a year ago. When we asked about debt, about 1 in 5 Americans said they’re more comfortable with their debt now

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Tuesday, November 1, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

Wells Fargo & Co. has cancelled its planned test run of a $3 monthly fee for customers who use a debit card. The trial had been slated for five states, but is now off the calendar, the bank said in statement posted on its website late last week. Ed Kadletz, head of the bank’s debit and prepaid

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Tuesday, November 1, 2011 11:37 am
By Claes Bell · Bankrate.com

This morning Bank of America announced it is shelving plans for a $5 monthly fee for using a debit card. If you’ll recall, those plans had touched off a public relations nightmare for both BofA and the banking industry in general, leading to a lot of customer outrage and a social-media driven movement to get

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Monday, October 31, 2011 4:17 pm
By David McMillin · Bankrate.com

In another victory for account holders, one more of America’s biggest banks has canceled its plans to charge for debit card use. Atlanta-based SunTrust announced that it no longer plans to charge a monthly fee for using a check card. If you’re a SunTrust checking account holder, here’s some additional good news: You can expect

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