Banking Blog

Monday, October 18, 2010 9:30 am
By Marcie Geffner · Bankrate.com

If there were a Hollywood Walk of Fame for banks, savings and loan associations and credit unions, would your banking institution have a star with its name on it? There is, of course, a way to find out, and that is Bankrate.com’s quarterly Safe and Sound Ratings report on the safety and soundness of more than

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Thursday, October 14, 2010 3:06 pm
By Claes Bell, CFA · Bankrate.com

Ever wish you could give your child a debit card for day-to-day expenses without having to transfer money out of your checking account all the time or worrying that they’ll blow a bunch of money without getting your permission first? In a push to find new customers, banks are taking cell-phone providers’ lead and establishing

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Wednesday, October 13, 2010 9:30 am
By Marcie Geffner · Bankrate.com

A new survey of 15,000 people in the U.S. and Canada has found that banking customers have so far not embraced mobile banking. In fact, only a scant 1.7 percent of U.S. respondents said they preferred to use mobile banking for routine transactions. That figure wasn’t as dismal as the percentage who said they liked to

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Monday, October 11, 2010 9:30 am
By Marcie Geffner · Bankrate.com

The National Consumer Law Center, or NCLC, a nonprofit advocacy group, has set out an aggressive agenda for the federal government’s new Consumer Financial Protection Bureau. On the NCLC’s wish list are action items for mortgages, credit cards, overdraft fees, prepaid debit cards, debt collection and more. The items that would take direct hits at

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Thursday, October 7, 2010 4:18 pm
By Claes Bell, CFA · Bankrate.com

Still worried about overdrafts on your checking account, despite recent Federal Reserve rules that require you to opt in to your bank’s overdraft program for debit card purchases and ATM transactions before you can be charged? If so, you’ll be happy to know the Federal Deposit Insurance Corp is planning to further restrict checking account

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Wednesday, October 6, 2010 9:30 am
By Marcie Geffner · Bankrate.com

“Most consumers avoid overdraft fees.” That’s according to the American Bankers Association, or ABA, which recently released a survey of 1,000 people on the subject of overdraft fees. The survey found that 77 percent of those questioned said they hadn’t paid an overdraft fee in the last 12 months. And indeed, it’s probably reasonable to

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Monday, October 4, 2010 11:47 am
By Marcie Geffner · Bankrate.com

121. That’s how many dead banks are now on Bankrate.com’s list of 2010 bank failures. New to the list in September were nine banks: three in Georgia, two in Florida and one each in Washington, Wisconsin, Ohio and New Jersey. Yet there is a silver lining: Despite the woefulness of the bank failures, the pain

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Wednesday, September 29, 2010 10:22 am
By Marcie Geffner · Bankrate.com

5.9 percent — that was the U.S. personal savings rate in July 2010, according to the Bureau of Economic Analysis, or BEA, one of the federal agencies that keeps track of such statistics. That 5.9 percent figure was slightly lower than the 6.2 percent rate the BEA calculated for June 2010 and substantially lower than

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Wednesday, September 29, 2010 10:13 am
By Marcie Geffner · Bankrate.com

Politics aside, it’s easy to like at least some of what President Barack Obama recently had to say in the White House Rose Garden about the mission of the new Consumer Financial Protection Bureau. Here’s an extended excerpt: “Never again will folks be confused or misled by the pages of barely understandable fine print that

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Wednesday, September 15, 2010 12:30 pm
By Marcie Geffner · Bankrate.com

Do the world’s biggest banks need stricter capital requirements to strengthen their viability, discourage risky behavior and reduce the chances of another financial market meltdown? The question may seem far from most banking customers’ lives, but it’s not an academic exercise. In fact, the call for more and better capital is so clear that the Federal

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