Banking Blog

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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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, CFA · 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 in cash and approximately 56

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Friday, June 17, 2011 2:48 pm
By Marcie Geffner · Bankrate.com

Minority-owned community banks are vital institutions in the places where they do business, which are often under-served by financial services firms. That was the main point of remarks by John Walsh, acting comptroller of the currency at the U.S. Office of the Comptroller of the Currency, at a recent interagency conference on minority-owned depository institutions.

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Thursday, June 16, 2011 9:49 am
By Claes Bell, CFA · Bankrate.com

Yesterday, American Express announced the rollout of a fee-free prepaid debit card that could have huge benefits for a broad range of consumers, and even serve as a checking account replacement for some current bank customers. Fee-wise, the new card beats a lot of conventional debit cards offered by major banks. American Express pledges no

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Tuesday, June 14, 2011 12:12 pm
By Claes Bell, CFA · Bankrate.com

Looks like America’s banking system will soon have a new watchdog to replace departing FDIC chairman Sheila Bair. From Rob Blackwell at American Banker: After months of waiting, President Obama confirmed the worst-kept secret in D.C.: he would nominate Marty Gruenberg as the chairman of the Federal Deposit Insurance Corp. Gruenberg has been the obvious

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Tags: Banking, banks, FDIC
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