Banking Blog

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, CFA · 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, CFA · 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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Monday, December 20, 2010 9:30 am
By Marcie Geffner · Bankrate.com

“December the 7th, 2010. Let’s withdraw our money!” That’s the proclamation that was bannered across the Bankrun2010 website and called the world’s citizens to remove their money from banks earlier this month. The campaign hasn’t been all that successful, and the idea certainly may seem more likely to cause harm than good. But the fact that even a

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Friday, December 17, 2010 11:28 am
By Claes Bell, CFA · Bankrate.com

Since the implementation of the Federal Reserve’s Regulation E in August 2010, banks have been forced to get customers’ permission to sign them up for overdraft services. Well, according to a new study by the research firm Corporate Insight, banks are still figuring out how to sell checking account overdraft services now that they can no

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Wednesday, December 15, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Credit cards and mortgages. Those two consumer financial products are in the sights of Elizabeth Warren. She’s an assistant to President Barack Obama and special adviser to the secretary of the Treasury on the Consumer Financial Protection Bureau. Credit cards and mortgages made the top of Warren’s list because they are, respectively, “the most widely

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Thursday, December 9, 2010 8:00 am
By Claes Bell, CFA · Bankrate.com

If you bank at a small bank or credit union, you’re probably a happier and more loyal customer, at least according to a study published this month by Prime Performance. The study found 87 percent of credit union customers and 86 percent of small bank customers (banks less than 300 branches) were satisfied with the

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Wednesday, December 8, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Consumers are feeling the pinch of a weak economy, but banks and thrifts are doing okay, judging by recent statements from the National Foundation for Consumer Counseling, or NFCC, the Federal Deposit Insurance Corp., or FDIC, and the federal Office of Thrift Supervision, or OTS. First, the consumers. A recent NFCC poll found that 91 percent of

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