Banking Blog

Tuesday, February 22, 2011 6:45 pm
By Claes Bell, CFA · Bankrate.com

What are you planning on doing with that change in your pocket? If you’re about to spend it on vending machine food or just lose it in your couch cushions, the Independent Community Bankers of America would like to have a word with you. That’s because it’s America Saves Week, a week-long push by the

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Thursday, February 17, 2011 2:53 pm
By Claes Bell, CFA · Bankrate.com

There was a great article last week in The Wall Street Journal on how big banks are ramping up their incentives to try and bring in new checking and savings customers. Here are some of the examples of incentives being offered by some of the bigger banks: PNC Bank: $100 coupon for opening a checking

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Monday, February 14, 2011 5:18 pm
By Claes Bell, CFA · Bankrate.com

There’s been a lot of talk lately about the Bank of China’s decision a while back to begin accepting deposits from American consumers for conversion into Chinese yuan. The deposits are insured by the Federal Deposit Insurance Corp., and because many consider China a lock for tremendous growth going forward and its currency has long

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Thursday, February 10, 2011 3:27 pm
By Claes Bell, CFA · Bankrate.com

In covering banking for Bankrate, I spend a lot of time thinking about what people don’t like from their bank — excessive fees, poor service, security problems — but less time on what they do. An interesting survey out this week commissioned by Ally Bank explored just that question. In honor of Valentine’s Day, pollsters

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Tags: Rates, savings
Wednesday, February 9, 2011 9:30 am
By Marcie Geffner · Bankrate.com

The Identity Theft Resource Center, which tracks and monitors security breaches that involve personally sensitive information, reported 662 incidents that exposed more than 16 million records in its year-end 2010 report. The Banking/Credit/Financial category didn’t dominate the list, but quite a few breaches were attributed to companies in this sector. Some of the incidents involved

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Monday, February 7, 2011 9:30 am
By Marcie Geffner · Bankrate.com

The essential message was “status quo” in the Federal Reserve’s latest quarterly survey of senior loan officers’ observations of lending practices, at least on the consumer side of the equation. The survey, which also included commercial and business lending, found not much had changed for better or worse. To wit: Banks again reported an increased willingness

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Thursday, February 3, 2011 12:37 pm
By Claes Bell, CFA · Bankrate.com

The Wall Street Journal had an interesting article last week exploring the ID theft protection services banks offer to checking account customers: Citibank, Fifth Third, Wells Fargo and BofA say their products help protect customers from identity theft by detecting problems earlier—and that being enrolled in its services means faster recovery of a stolen identity.

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Monday, January 31, 2011 9:30 am
By Marcie Geffner · Bankrate.com

Access to capital in the form of bank loans is crucial to the operation and expansion of many small businesses. While there’s no question that capital has been “crunched” in the Great Recession, the debate over whether small businesses can — or can’t — get bank loans today is apparently still open. The National Small

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Thursday, January 27, 2011 7:00 am
By Claes Bell, CFA · Bankrate.com

Americans love their smartphones: an average of 61.5 million Americans owned a smartphone in the final quarter of 2010, according to comScore. And although a lot of bank customers aren’t too crazy about banking on those smartphones yet, banks are continuing to push mobile banking for their checking accounts, savings accounts and other products. A new

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Monday, January 24, 2011 9:30 am
By Marcie Geffner · Bankrate.com

“The biggest risk to banking today has become regulatory risk.” That’s a comment from Wayne Abernathy, executive vice president of the American Bankers Association in Washington, D.C., on the group’s ABA Dodd-Frank Tracker blog. Indeed, Abernathy may be right about the increased risk as a “tsunami of new rules and restrictions,” to use his description,

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