Banking Blog

Saturday, October 15, 2011 12:30 pm
By David McMillin · Bankrate.com

Community banks may be struggling to keep up with another side of the banking industry: credit unions. Earlier this week in testimony before Congress, Sal Marranca, Independent Community Bankers of America chairman, made the case for repealing the tax exemption status that federal credit unions currently enjoy. From the chairman’s testimony: The current tax exemption

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Friday, October 14, 2011 1:40 pm
By Greg McBride, CFA · Bankrate.com

Lots of consumers are fighting mad about rising bank fees. Here are some ways to fight back: If you don’t want to pay to use a debit card, you can resort to other methods of payment such as cash, checks or even your credit card. A lot of credit card rewards programs are far more

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Friday, October 14, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

A Bank of America executive has responded to a woman who started an online petition to protest the bank’s new debit card fee. Andrew Plepler, who has the long double-barreled title of global corporate social responsibility executive and consumer policy executive at Bank of America, earlier this week called Molly Katchpole, a 22-year-old Bank of

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Thursday, October 13, 2011 2:48 pm
By Marcie Geffner · Bankrate.com

Will big banks’ losses be community banks’ and credit unions’ gains? That’s the presumptive winners’ hoped-for outcome as consumers supposedly take up in arms over new bank fees for debit card use. The Credit Union National Association, or CUNA, a trade group that represents credit unions, said in an Oct. 7 statement that consumers who

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Thursday, October 13, 2011 2:24 pm
By Claes Bell · Bankrate.com

In the furor over new checking account fees that’s been dominating banking news, a fairly significant development in the implementation of the Dodd-Frank financial reform law has been drowned out. This week we got details about how a key provision in Dodd-Frank, known as the Volcker Rule, will actually work in practice. The rule is

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Wednesday, October 12, 2011 4:53 pm
By Patrick Van Horn · Bankrate.com

In what is becoming almost a common occurrence, the European Union, or EU – led by France and Germany – held an emergency meeting this weekend to address the weak financial situation of the European banks. Markets are responding positively, with European and U.S. stock markets up more than 2 percent Monday. But is this an overly optimistic reaction

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Tuesday, October 11, 2011 12:21 pm
By Claes Bell · Bankrate.com

Credit unions aren’t wasting any time exploiting the national mood over new checking fees to drive up membership. Last week the Credit Union National Association, an industry trade group, put out a press release touting credit unions’ free checking offerings. From the release: “We want consumers to know they can fight back against big banks

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Monday, October 10, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

Withholding financial information from your spouse can be a sign that your marriage is unhealthy, even if the deception is well-intended. That’s according to Gail Cunningham, a spokeswoman for the National Foundation for Credit Counseling, or NFCC, in Washington, D.C. The organization recently conducted an online poll of 1,400 people through its website and found

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Sunday, October 9, 2011 6:00 am
By Claes Bell · Bankrate.com

A lot of people are angry with the big national banks right now for introducing debit card fees, and I’ve been hearing a lot of talk about just ditching checking accounts altogether and going with a prepaid debit card instead. While I understand the impulse — the idea of paying fees to use one’s own

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Saturday, October 8, 2011 12:30 pm
By David McMillin · Bankrate.com

Over the past few weeks, consumers have put their anger with the banking industry into action. Protests on Wall Street that have begun to spread across the country, and some readers of this blog have said they plan to close their accounts if and when their banks begin to roll out new fees. Based on many

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