Banking Blog

Thursday, April 28, 2011 2:27 pm
By Claes Bell · Bankrate.com

The Center for Responsible Lending, a consumer advocacy group focused on financial issues, has an interesting survey out that might explain why millions of Americans are signing up for “courtesy” overdraft protection on their checking accounts. In case you’re not familiar with that term, courtesy overdraft protection allows debit card purchases to go through even

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Friday, April 22, 2011 12:04 pm
By Claes Bell · Bankrate.com

J.D. Power released the its annual Retail Banking and Satisfaction Study this week, and the results are somewhat surprising. In a year of continued economic hardship, rising checking account fees and shrinking bank services, overall customer satisfaction with banks has actually risen slightly: The study, now in its sixth year, finds that retail banking customer

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Thursday, April 14, 2011 4:20 pm
By Claes Bell · Bankrate.com

During the depths of the financial crisis, savings account holders were treated to the unpleasant news that rapidly failing banks were emptying the multi-billion-dollar FDIC insurance fund faster than a hunch-punch bowl at a frat party. By the end of the third quarter of 2009, the fund was $8.2 billion in the red and falling,

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Thursday, April 7, 2011 12:00 pm
By Claes Bell · Bankrate.com

If you get any emails from your checking or savings account provider during the next couple of weeks, watch out. You may be the target of a potential wave of “phishing” attacks due to a massive data breach at email communications provider Epsilon (from CNET). The breach, which took place last week but was announced

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Thursday, March 31, 2011 3:18 pm
By Claes Bell · Bankrate.com

I’m a probably a little late to the party on this, but I saw today in American Banker that ING Group is being forced by the European Union to sell off its U.S. online banking unit: ING is under European Union orders to divest its U.S. online lender, ING Direct USA, before 2013. The Amsterdam,

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Thursday, March 24, 2011 11:14 am
By Claes Bell · Bankrate.com

JPMorgan Chase is testing out a plan to boost ATM fees for noncustomers in some markets to $5 per withdrawal. From ABC News: The new fees could be especially costly for people who withdraw cash from another bank’s ATM. Chase is now charging Illinois residents $5 every time a non-customer withdraws money from a Chase

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Thursday, March 17, 2011 1:45 pm
By Claes Bell · Bankrate.com

On Twitter, @nomoredebt4me posed an interesting question: “Just tried opening an account w/ recommended bank. Was denied and feel like I’ve been lied 2 @Bankrate now what?” Unfortunately, @nomoredebt4me’s experience isn’t unique. If you’ve never been denied a bank account, you’ve probably never heard the name ChexSystems; the bank credit bureau is pretty good at

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Tuesday, March 15, 2011 12:09 pm
By Claes Bell · Bankrate.com

As the flood of bad news continues coming in from Japan, it’s heartening to see thousands of Americans have already donated to relief organizations working to bring relief to victims of the Japanese earthquake and subsequent tsunami. By the end of the weekend following the disaster, the Red Cross had already collected nearly $8 million

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Monday, March 14, 2011 1:59 pm
By Claes Bell · Bankrate.com

If you’re a CD investor, no one needs to tell you that CD rates are depressingly low right now. But it’s worth remembering that despite three years of sliding yields, there is still a significant difference between the average CD rate and the highest yield CD rates out there. So if you’re still rolling CDs

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Thursday, March 10, 2011 3:46 pm
By Claes Bell · Bankrate.com

Just in case you were wondering if banks are still upset about upcoming limits on the debit interchange fees they can charge merchants, rest assured they are. The latest scheme to replace interchange fee income/punish America for its insolence comes via JP Morgan Chase, which is floating the idea of placing limits on the size

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