Banking Blog

Tuesday, August 30, 2011 3:49 pm
By Claes Bell · Bankrate.com

It seems like every week brings another member of the banking industry’s “Too Big to Fail” club announcing they’re killing off free checking and introducing new fees. Plenty of consumers will probably just pay up, but if you’re looking for a refuge from fees, smaller institutions are still an option. For example, in this year’s

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Saturday, August 27, 2011 12:30 pm
By David McMillin · Bankrate.com

Here’s some news that will make financial executives and savings account holders cheer together: Fewer banks are set to fail this year. According to a quarterly report released by the FDIC, the list of problem banks is smaller for the first time in nearly five years. Problem banks are FDIC-insured institutions that lack the necessary

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Friday, August 26, 2011 12:30 pm
By David McMillin · Bankrate.com

If banking means powering up your smartphone, it’s time to get wise to which applications, or apps, are keeping your personal information secure. Digital forensics and security firm viaForensics conducted a mobile application security study to determine how well some of the most popular consumer apps protect sensitive data. Only 14 of 32 Android and iPhone financial

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Thursday, August 25, 2011 2:11 pm
By Claes Bell · Bankrate.com

Banking giants the world over are struggling with falling stock prices, but Bank of America has had a particularly tough month. BoA executives watched in dismay as the bank’s stock price plummeted in August, reaching a low of $6.01 this week before surging on news that Berkshire Hathaway founder Warren Buffett had made a massive

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Tags: Banking, banks
Tuesday, August 23, 2011 11:28 am
By Claes Bell · Bankrate.com

Five months after closing its debit rewards program to new customers, banking giant Wells Fargo announced this week it’s ending debit rewards programs for existing customers. From Blake Ellis at CNN Money: Beginning in October, customers who are already enrolled in the issuer’s debit card rewards program will no longer receive points for making debit

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Monday, August 22, 2011 3:29 pm
By Marcie Geffner · Bankrate.com

Overdraft fees charged by major U.S. banks remained largely unchanged from 2010 to this year. But many banks tinkered with their overdraft policies in ways that might cost consumers more (or less) money if they incur an overdraft. The median bank overdraft fee was unchanged at $35 with initial fees ranging from $33 to $37. A

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Monday, August 22, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

When it comes to online banking and investing, security trumps speed and convenience for nearly 80 percent of consumers. That’s according to a recent Zogby Interactive survey in which 78 percent of 2,160 U.S. adults polled said they’d sacrifice some convenience and provide an extra level of authentication in addition to a password before accessing

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Saturday, August 20, 2011 12:30 pm
By David McMillin · Bankrate.com

While some of America’s biggest banks closed their debit rewards programs earlier this year, using your check card can still pay off. Last month, Ally Bank unveiled a free rewards program that offers cash back on some debit card purchases. The program doesn’t function exactly the way debit rewards programs worked at other banks, though.

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Friday, August 19, 2011 1:20 pm
By Claes Bell · Bankrate.com

It’s probably not a coincidence that less than a week after a Federal Open Market Committee meeting ended with three members dissenting, the Obama administration finally began floating some new nominees for the Board of Governors at the central bank. The three dissenting FOMC members, Richard Fisher, Narayana Kocherlakota and Charles Plosser took issue with

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Friday, August 19, 2011 10:30 am
By Marcie Geffner · Bankrate.com

Should the federal government regulate virtual currencies as if they were home loans, bank accounts or other consumer financial products? That question popped up this week in a comment letter the American Bankers Association, or ABA, submitted to the Consumer Financial Protection Bureau, or CFPB. The letter expressed the Washington, D.C.-based trade association’s views about the

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