Banking Blog

Monday, December 6, 2010 3:17 pm
By Marcie Geffner · Bankrate.com

The federal Dodd-Frank Wall Street Reform and Consumer Protection Act is so complicated that the American Bankers Association, or ABA, has created a separate website, the ABA Dodd-Frank Tracker, for the exclusive purpose of tracking the implementation of the act’s numerous components and archiving the group’s involvement in what promises to be a long process.

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Thursday, December 2, 2010 5:32 pm
By Claes Bell, CFA · Bankrate.com

Good news for tech-savvy checking account holders on the go: More banks are offering mobile banking services than ever before. A recent report by market research firm First Annapolis found that 54 percent of the top 100 financial institutions in the country surveyed offered some form of mobile banking. Nearly 40 percent now offer banking

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Wednesday, December 1, 2010 9:30 am
By Marcie Geffner · Bankrate.com

Banks are raising fees and doing away with free checking accounts, according to Bankrate.com’s 2010 Checking Study, an annual survey of banks’ checking account offerings. In case you missed the study when it was published back in October, here’s what you should absolutely know about current trends in banking: • Free checking. Sixty-five percent of

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Monday, November 29, 2010 9:40 am
By Marcie Geffner · Bankrate.com

Consumers readying themselves for holiday expenses have spoken, and they’ve declared a strong preference for cash and debit cards, rather than credit cards or layaway programs this year. That’s according to a new online poll of 4,800 people by the National Foundation for Credit Counseling, or NFCC, in Silver Spring, Md. The poll found that

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Thursday, November 25, 2010 8:00 am
By Claes Bell, CFA · Bankrate.com

The FDIC’s 3rd quarter earnings report showed bank profits are up and the banking industry is on more secure footing than last year. One small problem, though: the FDIC’s list of banks at risk of failure has grown from 829 in the second quarter to 860 in the third quarter, the highest level since the

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Monday, November 22, 2010 9:30 am
By Marcie Geffner · Bankrate.com

The Federal Deposit Insurance Corp. is on a mission to identify bank accounts that are safe and affordable for underserved banking customers, yet still profitable for banks that offer them. To that end, the agency recently tapped nine banks, varying in size, location and business model, to participate in a case study by offering such

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Thursday, November 18, 2010 5:42 pm
By Claes Bell, CFA · Bankrate.com

It seems like the worst fears of the banks are being confirmed: Two months after new rules went into effect requiring banks to get customers permission to enroll them in their lucrative overdraft protection programs, only about 1 in 5 have done so: The (Consumer Reports National Research Center) poll found that 22 percent have

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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, CFA · 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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