Banking Blog

Thursday, October 27, 2011 11:34 am
By Claes Bell, CFA · 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, CFA · 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, CFA · 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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Monday, October 24, 2011 3:03 pm
By Claes Bell, CFA · Bankrate.com

Tired of all the new fees popping up at large national banks? There’s a bank protest afoot that doesn’t involve camping, picketing or being gawked at by the national media. It’s called “Bank Transfer Day,” and it’s a social-media driven movement started by art gallery owner Kristin Christian. It aims to convince bank customers angered

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Sunday, October 23, 2011 12:30 pm
By David McMillin · Bankrate.com

While hundreds of bank failures have drained the FDIC’s Deposit Insurance Fund over the past four years, members across the banking industry may have a reason to celebrate. Over the next five years, the FDIC estimates losses of $19 billion due to bank failures, according to a report released last week. Wait, is that the good news?

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Saturday, October 22, 2011 12:30 pm
By David McMillin · Bankrate.com

While many personal account holders may be upset with some members of the banking industry, don’t expect small-business owners to join the protest just yet. The results of the J.D. Power and Associates’ Small-Business Banking Satisfaction Study are in, and overall satisfaction with banks has increased among small-business owners. On a 1,000-point scale, small-business banking customers

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Friday, October 21, 2011 9:00 am
By Marcie Geffner · Bankrate.com

Major banks that hope new monthly fees for debit card use will help them recoup the higher income they used to earn from merchants on such transactions might be disappointed. Substantial proportions of consumers say they won’t pay the new fees, according to a recent online survey that found 43 percent of respondents would change

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Thursday, October 20, 2011 4:46 pm
By Greg McBride, CFA · Bankrate.com

Credit unions are getting a lot of attention as part of the national dialogue about fees for debit cards and checking accounts. I recently talked with Ken Schram on KOMO Radio in Seattle about this trend and what consumers should know. Here’s an edited excerpt from that discussion. Ken: It seems that people are tired

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