Banking Blog

Wednesday, September 28, 2011 10:48 pm
By Marcie Geffner · Bankrate.com

A nationwide payday lender that tried to collect loan payments by tapping consumers’ paychecks without a court order has agreed to stop this practice — at least for now. That’s according to the Federal Trade Commission, or FTC, which filed a complaint against the lender in U.S. district court. The complaint alleges that Payday Financial

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Wednesday, September 28, 2011 3:25 pm
By Brian Page · Bankrate.com

Overdraft protection is connection to a credit or other bank account that the bank accesses when a withdrawal is made from a checking account with insufficient funds. Although the cost for this service varies from bank to bank, there is typically a fee per transaction. Overdraft protection does provide value. It prevents you from bouncing a check and incurring the

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Wednesday, September 28, 2011 1:55 pm
By Claes Bell · Bankrate.com

Mobile banking and mobile payments are looked at by a lot of people in the banking industry as the next big thing. Indeed, a new report by Javelin released this week shows that in the past 12 months, the percentage of mobile phone users who’ve banked on their mobile devices has grown from 19 percent

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Tuesday, September 27, 2011 12:24 pm
By Claes Bell · Bankrate.com

Those dreaming of the day when they could finally ditch cash in favor of debit cards are about to be dealt a setback. Andrew R. Johnson of The Wall Street Journal writes this week that MasterCard and Visa are likely to raise the swipe fees merchants pay banks to process small purchases: Thomas McCrohan, an

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Monday, September 26, 2011 4:13 pm
By Marcie Geffner · Bankrate.com

Three months and counting. That’s how long consumers have to complete their holiday shopping before Dec. 25, 2011. Three months might sound like plenty of time, but nearly one-third of consumers start the holiday season with no savings for the extra travel, gifts, decorations, meals and so on that they purchase during the last few

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Sunday, September 25, 2011 10:22 am
By Patrick Van Horn · Bankrate.com

Financial markets are intensely focused on the events unfolding in Greece. Markets seem concerned that once again Greece will not be able to satisfy the austerity requirements their last loan required for further loans. If they are not able to satisfy those concerns, it is possible that the European countries who are considering extending the

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Sunday, September 25, 2011 9:21 am
By David McMillin · Bankrate.com

Add another name to the list of big banks adding fees to their checking account structures in an attempt to make up for falling profits. In an announcement late last week, Citigroup unveiled plans to begin charging account holders a $10 monthly fee unless they can meet certain terms. The change goes into effect in

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Friday, September 23, 2011 2:22 pm
By Claes Bell · Bankrate.com

Ever feel like there’s no payoff for filling up a savings account at a bank these days? With interest rates on deposit accounts seemingly inching lower every week, it’s hard to get excited about the long-term benefits of regular saving. In an attempt to encourage people to do just that, credit unions in an increasing

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Friday, September 23, 2011 12:58 pm
By David McMillin · Bankrate.com

While the status of Capital One’s acquisition of ING Direct remains on hold, the smaller players in the banking industry are voicing a concern over adding another member to the too-big-to-fail, or TBTF, club. At the Federal Reserve’s hearing about the proposed acquisition earlier this week, a representative from the Independent Community Bankers of America, or

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Thursday, September 22, 2011 3:04 pm
By Claes Bell · Bankrate.com

It looks like the banks might be getting a break. One of the more controversial measures in the Dodd-Frank financial reform law is getting a bank-friendly makeover, according to a new article from Scott Patterson and Victoria McGrane at the Wall Street Journal: Banks could be allowed to continue making risky bets with their own

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