Banking Blog

Monday, November 15, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Fake checks are nothing new, but too many consumers are still faked out, i.e., victimized, by these scams. That’s why the Consumer Federation of America, or CFA, and a lengthy list of government agencies and financial institutions in Tennessee recently announced plans to offer a consumer brochure to any customer who deposits or withdraws more

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Thursday, November 11, 2010 5:24 pm
By Claes Bell · Bankrate.com

Hope you JP Morgan Chase customers out there weren’t too attached to your debit rewards cards. From American Banker this week: Chase last month stopped giving bonuses to bankers and branch managers for signing up debit card customers. Beginning in February, it will no longer issue debit rewards cards to new customers, Charlie Scharf, JPMorgan

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Wednesday, November 10, 2010 9:30 am
By Marcie Geffner · Bankrate.com

143 That’s the total number of U.S. banks that the Federal Deposit Insurance Corp. has sold off, wound up or closed so far this year. The most recent additions to the list of failed banks, announced Nov. 5, were: • K Bank (assets: $538 million) in Randallstown, Md. • Pierce Commercial Bank ($221 million) Tacoma,

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Monday, November 8, 2010 2:09 pm
By Marcie Geffner · Bankrate.com

Would you pay $2.50 to borrow $20 for one day? A week? A month? Perhaps if you were desperate enough, you would. But do the math and you’ll figure out that a $2.50 fee on a $20 loan for 30 days works out to an annual percentage rate, or APR, of about 150 percent. Cut the term

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Thursday, November 4, 2010 4:22 pm
By Claes Bell · Bankrate.com

If everyone was a credit union member, would we be be toasting the new economic recovery instead of wallowing in the same malaise we’ve been mired in since 2009? A recent survey shows consumers who bank at credit unions have a more positive view of their personal finances than those who don’t: According to credit

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Wednesday, November 3, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Halloween 2010 may be over, but financial institutions might still be scared if they’ve been reading the recent remarks of Elizabeth Warren, the former Harvard University law professor who is helping to “stand up,” to use her term, the new federal consumer protection bureau. Warren has unfolded a picture of an agency that’s little like

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Monday, November 1, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Do banking customers opt in to overdraft protection on debit card charges because they want this high-priced service or because they’ve been tricked into saying yes by aggressive or deceptive marketing? The Center for Responsible Lending, or CRL, a nonprofit organization that seeks to protect homeownership and family wealth by working to eliminate abusive financial

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Thursday, October 28, 2010 3:20 pm
By Claes Bell · Bankrate.com

This week Bankrate released its 2010 Checking Study, and it turns out a number of banks are phasing out free checking by introducing minimum balances or monthly maintenance fees. This shift away from free checking may be due in part to new Fed rules requiring customers to opt in for overdraft protection on debit cards

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Wednesday, October 27, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Say goodbye to five more banks, closed so far this month by the Federal Deposit Insurance Corp.: Premier Bank, $1.2 billion in assets, in Missouri. Security Savings Bank, $508 million, in Kansas. Wakulla Bank, $424 million, in Florida. Shoreline Bank, $104 million, in Washington State. Westbridge Bank and Trust Co., $91.5 million, also in Missouri.

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Monday, October 25, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Savings accounts, long a mainstay of many people’s financial lives, may no longer be a good deal. That’s according to a recent Bankrate.com report, “The hidden cost of savings accounts,” by Christina Couch, who writes that “savings accounts can burden consumers with low return rates, hidden fees and surprise penalties.” The story suggests that consumers might

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