Banking Blog

Wednesday, June 29, 2011 4:39 pm
By Claes Bell · Bankrate.com

The Federal Reserve has apparently been swayed by banking industry criticism of its proposed 12 cent cap for debit swipe fees, also known as debit interchange fees. After a hard and sustained lobbying campaign by large and small banks and credit unions, the Federal Reserve Board of Governors today voted to finalize a version of

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Tuesday, June 28, 2011 1:24 pm
By Claes Bell · Bankrate.com

The politicians who crafted and ultimately passed the Dodd-Frank financial reform bill last year made some big promises about how the law would boost safety and soundness at America’s biggest banks, but the biggest blow for bank safety and soundness may have been struck in Basel, Switzerland this week. From Huw Jones at Reuters: Global

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Sunday, June 26, 2011 11:00 am
By Marcie Geffner · Bankrate.com

Florida is known as The Sunshine State, and with good reason. So it’s perhaps no surprise that TD Bank chose Ft. Lauderdale, Fla., as the site of what the bank says is the first net-zero energy bank location in the U.S. A “net-zero energy building” is one that produces at least as much renewable power

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Friday, June 24, 2011 11:00 am
By Marcie Geffner · Bankrate.com

Senior executives of U.S. banks and other financial companies are significantly more optimistic about the prospects for their own firms than they are about the outlook for the nation’s economy as a whole. That’s one conclusion of a recent survey of 377 senior executives from various industries, including 76 people employed at U.S. banking, investment

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Thursday, June 23, 2011 1:38 pm
By Claes Bell · Bankrate.com

If you’re one of the many people who really hate paying banks’ ATM fees, don’t get mad, get reimbursed. Lots of banks offer checking accounts with ATM fee reimbursement as a key perk. Fifth Third Bank in particular is running a promotion offering ATM reimbursements on checking accounts for new customers who sign up by

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Thursday, June 23, 2011 12:30 pm
By Marcie Geffner · Bankrate.com

Retailers won another battle against the banks earlier this month as the U.S. Senate rejected an amendment that would have delayed the implementation of the “swipe fee” rule, which will cut the fees retailers pay banks when consumers use debit cards to make purchases. The amendment went down to defeat on a 54-45 vote, in

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Thursday, June 23, 2011 11:00 am
By Marcie Geffner · Bankrate.com

The all-out war between banks and retailers over the new federal rules that will restrict so-called interchange fees might not be over quite yet. That’s because U.S. Sens. Jon Tester (D-Mont.) and Bob Corker (R-Tenn.) have introduced a bill that would delay the government’s plan to “price-fix debit card swipe fees,” to use Tester’s characterization.

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Wednesday, June 22, 2011 9:24 am
By Marcie Geffner · Bankrate.com

Consumers who want to earn more interest on their bank savings and checking accounts might have a long wait, judging by Federal Reserve Chairman Ben Bernanke’s remarks earlier this month at a conference in Atlanta. Bernanke acknowledged the moderate pace of the U.S. economic recovery, rise in inflation, slowed momentum in the labor market and

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Wednesday, June 22, 2011 7:00 am
By Claes Bell · Bankrate.com

It seems unlikely now that retail banking as we know it could face serious decline. Sure, banks have consolidated a lot recently, just like many types of businesses, but the neighborhood bank branch, whatever name it bears, has been a fixture of American life almost as long as America has existed. But technology has a

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Tuesday, June 21, 2011 1:37 pm
By Marcie Geffner · Bankrate.com

“Attractive financial results.” “Long-term strategic value.” “Seven million young, high-income, loyal customers.” Those were the reasons, according to a company statement, why Capital One Financial Corp. agreed this week to pay $9 billion in stock and cash to buy online bank ING Direct. The purchase price will consist of $6.2 billion┬áin cash and approximately 56

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