Banking Blog

Saturday, July 2, 2011 3:30 pm
By Marcie Geffner · Bankrate.com

More female small-business owners are funding their businesses with credit cards and personal savings, instead of or in addition to long-term bank financing. That’s one finding of a new survey of U.S. female owners released by PNC Financial Services Group, a banking and financial services institution in Pittsburgh. The survey found that 59 percent of

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Friday, July 1, 2011 12:40 pm
By Marcie Geffner · Bankrate.com

The Federal Reserve Board this week issued its final rule establishing an interchange rate of 24 cents for debit card transactions and implementing related requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rule came out with the usual flurry of doom-and-gloom press statements on both sides of the debate, plus

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Friday, July 1, 2011 12:25 pm
By Marcie Geffner · Bankrate.com

Government agencies expend a lot of time and money coming up with definitions. These exercises might seem silly until a seemingly obvious term like, say, “bank” gets caught up in some sort of enforcement, prosecution or civil action. Then, the official definition suddenly becomes a serious matter, indeed. A current example concerns the term “nonbank,”

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Thursday, June 30, 2011 11:28 am
By Claes Bell, CFA · Bankrate.com

Since I last reported on the Citigroup data breach, the bank has admitted that the number of customers affected was around 360,000, about 80 percent more than they originally reported. These types of revelations are now pretty commonplace after data breaches, as firms burned by hackers often prioritize damage control over truthful disclosure. Of course,

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Wednesday, June 29, 2011 4:39 pm
By Claes Bell, CFA · 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, CFA · 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, CFA · 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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