Banking Blog

Friday, January 14, 2011 9:29 am
By Marcie Geffner · Bankrate.com

Banks and their customers don’t exactly see eye to eye when it comes to consumers’ attitudes about banks’ reputation and trustworthiness. That’s the key finding of one recent survey on the subject. The difference between consumers’ and bankers’ impressions was a matter of 44 points on the most recent biannual Index of Bank Sentiment, created

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Thursday, January 13, 2011 10:55 am
By Claes Bell · Bankrate.com

Looks like small banks and credit unions might be more likely to keep free checking accounts around than large banks, thanks to a loophole in last year’s Dodd-Frank financial reform bill. The law caps debit interchange fees, the fees banks charge merchants to process debit card transactions, but only for banks with over $10 billion

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Wednesday, January 12, 2011 9:30 am
By Marcie Geffner · Bankrate.com

Consumers may have a lot on their minds when they interact with their bank. After all, overdraft fees, free checking accounts and loan foreclosures are just a few of the controversial subjects that affect many banking customers in one way or another. But what do banks – or more correctly, bankers — think about? It’s an

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Monday, January 10, 2011 9:30 am
By Marcie Geffner · Bankrate.com

“Decrease debt.” That was the top choice of consumers who responded to a recent online poll about finance-related New Year’s resolutions. The poll was conducted in December by the National Foundation for Credit Counseling, or NFCC, a nonprofit based in Silver Spring, Md. The respondents, who numbered more than 3,200, were given four possibilities from

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Thursday, January 6, 2011 12:46 pm
By Claes Bell · Bankrate.com

Looks like the heavy snows of the last few months won’t be the only blizzards we see this season. Last week I wrote about how banks will likely raise fees for checking accounts in response to new caps on the fees they can charge merchants for debit transactions. Well, a Wall Street Journal article out

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Wednesday, January 5, 2011 9:30 am
By Marcie Geffner · Bankrate.com

Jim Wigand has a too-big-to-fail job. As of Dec. 31, 2010, the former deputy director for franchise and asset marketing at the Federal Deposit Insurance Corp., or FDIC, became the new director of the Office of Complex Financial Institutions, or CFI, also at the FDIC. The CFI was created in August 2010 to help the

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Thursday, December 30, 2010 6:00 am
By Claes Bell · Bankrate.com

The Fed recently proposed new limits on how much banks can charge merchants for debit card transactions, which could be the final nail in the coffin for debit card rewards and free checking accounts. The rules would limit banks with assets over $10 billion to a flat, 12 cent fee per transaction, an amount closer to

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Wednesday, December 29, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Is the traditional bank account checkbook a dead technology? Maybe. Or maybe not. It’s no secret that technologies, loosely defined, sweep by faster today than they ever did in the past. Classic toys that delighted children in the 1950s are ancient history. Once-common items like hotel room keys, user’s manuals, camera film and pay telephones

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Thursday, December 23, 2010 6:00 am
By Claes Bell · Bankrate.com

Looks like “chip and PIN” might be coming to U.S. shores after all. Frequent travelers to Europe know European retailers and banks can sometimes get a little testy about Americans trying to use their arrogant non-chip-and-PIN debit cards to make purchases and take money out at ATMs. Sometimes, retailers may even refuse to take conventional

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Wednesday, December 22, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Should U.S. banking regulators “serve the banks” or act as “restraints” on bank speculation? The contrast between the two views is stark, and the answer may seem obvious to some. Yet it’s clearly a sore subject of genuine disagreement between two high-profile politicians: Rep. Spencer Bachus, R-Ala., and Rep. Barney Frank, D-Mass., who happen to be

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