Banking Blog

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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Saturday, October 29, 2011 12:30 pm
By David McMillin · Bankrate.com

Remember when taxpayers threw up their arms in disgust when Congress agreed to give America’s banks hundreds of billions of dollars in 2008? Much of the news around the Troubled Asset Relief Program initially focused on the big banks who received taxpayer dollars, but a new report shines a light on another segment of TARP

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Friday, October 28, 2011 4:55 pm
By David McMillin · Bankrate.com

As account holders hold their breaths and hope to avoid new bank fees, one of America’s biggest banks has offered some good news: fewer account restrictions, more benefits and the assurance of no fees for debit card use. In an announcement Thursday, Huntington National Bank confirmed it has no plans to charge account holders for

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Friday, October 28, 2011 11:21 am
By Claes Bell · Bankrate.com

The big news today in banking is JPMorgan Chase backing away from debit card fees that have sparked consumer outrage and inspired some to push for a national Bank Transfer Day. From Robin Sidel at The Wall Street Journal: Following eight months of consumer testing, J.P. Morgan Chase & Co. has decided that it won’t

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Thursday, October 27, 2011 11:34 am
By Claes Bell · Bankrate.com

There’s been a meme bouncing around the Web that new debit card fees riling up bank customers are a sign that big banks are trying to kill debit cards. I’ve seen that argument being made by a number of writers, including Maria Aspan of American Banker and more recently by Herb Weisbaum of MSNBC. Here’s

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Wednesday, October 26, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

U.S. consumers know they should save for retirement, but “should save” doesn’t always translate into “do save,” according to a new telephone survey of 2,000 adults. Almost 90 percent of survey respondents agreed with a statement that people should start saving for retirement when they begin their first job and continue to save as long

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Wednesday, October 26, 2011 9:56 am
By Claes Bell · Bankrate.com

It looks like frustration over banking fees is reaching a breaking point for some people out there. From West Palm Beach, Fla.-area ABC affiliate WPBF-25: A 29-year-old man faces a charge of criminal mischief after he beat up an automated teller machine because he was frustrated about being charged too much, according to the Indian

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Tuesday, October 25, 2011 3:31 pm
By Claes Bell · Bankrate.com

I’ve been getting a lot of questions lately, both online and “IRL,” about which banks have introduced debit card fees. This blog will be an attempt to create an informal scorecard to answer that question. I’m going to be addressing the top 25 retail banks by deposits in the U.S. that offer consumer checking accounts,

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Tuesday, October 25, 2011 9:30 am
By Marcie Geffner · Bankrate.com

Guilty. That was the plea Mark A. Conner, formerly president of FirstCity Bank of Stockbridge, Ga., entered last week in federal court in connection with charges of conspiracy to commit bank fraud and perjury, according to a U.S. Department of Justice statement. According to the charges and other information presented in court, Conner and others

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