Banking Blog

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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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, CFA · 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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