Banking Blog

Thursday, September 15, 2011 4:01 pm
By Claes Bell · Bankrate.com

It looks like thieves are increasingly using alternative payment systems like PayPal, rather than debit cards issued by banks, to defraud merchants online. Daniel Wolfe has an interesting article in American Banker this week highlights a Javelin Strategy & Research Study that finds debit cards’ role in online fraud is decreasing: Merchants that accept alternative

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Wednesday, September 14, 2011 2:19 pm
By Claes Bell · Bankrate.com

This week Bank of America became the latest large bank to announce mass layoffs in an attempt to cut costs and improve profitability. From Dan Fitzpatrick at The Wall Street Journal: Bank of America Corp. Chief Executive Brian Moynihan announced a $5 billion cost-pruning plan that includes 30,000 job cuts. Bank of America will cut

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Tuesday, September 13, 2011 4:20 pm
By Claes Bell · Bankrate.com

Ever feel a little bit afraid to drive across a new or newly repaired bridge? That’s probably how the Fed is feeling a little bit right now when it comes to testing out a new banking regulation. Capital One’s proposed merger with ING and HSBC is providing the first big test of a Dodd-Frank measure

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Saturday, September 10, 2011 9:59 am
By David McMillin · Bankrate.com

No matter how old you are, leaving your house to take care of your banking needs seems so last year. The results of a new American Bankers Association survey show that the majority of older Americans now prefer online banking versus visiting a branch, using the mail or any other method. While younger consumers were

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Thursday, September 8, 2011 4:27 pm
By David McMillin · Bankrate.com

For some community banks in Georgia, the past three years have marked a sour period in the Peach State. Over the Labor Day weekend, the Georgia Department of Banking and Finance closed two small institutions, Cumming-based Patriot Bank and Woodstock-based Creekside Bank. The two closings bring the tally for bank failures in Georgia to a

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Thursday, September 8, 2011 6:00 am
By Claes Bell · Bankrate.com

As you’ll see in our upcoming 2011 Checking Study, free checking accounts are quickly becoming hard to find, especially at big banks. Banks are dealing with the loss of lots of juicy overdraft income as a result of the “opt-in” rule in Regulation E, and they’re about to lose even more in “swipe fee” income

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Wednesday, September 7, 2011 10:14 am
By Marcie Geffner · Bankrate.com

It’s never too soon — or too late — to introduce a young child to savings and bank savings accounts. That’s this year’s back-to-school message from the ABA Education Foundation, an affiliate of the American Bankers Association, and the ACA International Education Foundation, an affiliate of the Association of Credit and Collection Professionals. Both organizations

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Tuesday, September 6, 2011 4:48 pm
By Marcie Geffner · Bankrate.com

The Better Business Bureau of the Mid-South, or BBB, is warning consumers about a magazine subscription service that allegedly debited consumers’ bank accounts without their permission, supposedly after mailing out notices about automatic renewals of magazine subscriptions. The company, Global Subscription Services, has an F rating with the BBB and operates with a Memphis, Tenn.,

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Monday, September 5, 2011 4:12 pm
By Marcie Geffner · Bankrate.com

Disaster preparedness usually focuses on safeguarding people and property. But what about your financial data? Would you be able to make purchases, access your bank and investment accounts and find your income tax returns after an earthquake, hurricane, tornado or other natural catastrophe? If not, the Independent Community Bankers of America, a trade group of

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Monday, September 5, 2011 9:30 am
By Marcie Geffner · Bankrate.com

Bank of America has agreed to sell 13 billion shares of China Construction Bank, or CCB, to a group of investors in a private transaction, generating $8.3 billion in cash proceeds and an after-tax gain of $3.3 billion. The sale, subject to customary conditions, is expected to close in the third quarter of 2011, the

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