Current Events and Banking Industry News

California Law Paves Way for More Credit-Building 0% Loans

August 20, 2014

California broadened the reach of nonprofits that target low-income borrowers who lack the credit standing needed to obtain a traditional loan, enacting a law that lets the organizations lend as much as $2,500 interest free [...]

READ MORE

Amazon Mobile Payment App Lets Merchants Avoid Banks

August 13, 2014

Amazon jumped deeper into the retail payments processing arena with a mobile card reader for smartphones or tablets and a new transaction service, called Local Register, that lets shopkeepers avoid putting their receipts in a [...]

READ MORE

Bitcoin Put on Consumer Agency Watchlist

August 12, 2014

If you’ve been scammed by offers involving Bitcoin, Dogecoin or XRP, the U.S. government wants to know. Ditto if you’ve lost out on transactions involving any form of digital currency. The Consumer Financial Protection Bureau [...]

READ MORE

Banking Rewards Emerge as Consumers’ Top Priority

August 11, 2014

Most consumers want rewards from the banks and credit unions they do business with, a survey from CGI Group shows. So you’re not alone if you’re peeved that you don’t get cash back or other perks [...]

READ MORE

Checking

P2P Online Payment Systems Cut Costs and Hassles

August 4, 2014

For better or worse, new technology makes sticking your friend with the restaurant check or shirking your share of the monthly bills much harder these days. As using person-to-person (P2P) online payment systems mean moving [...]

READ MORE

New Account Bonuses Draw Bank Hoppers Trying to Cash In

July 25, 2014

Gone are the free thermoses and knife sets that once rewarded new checking or savings accounts. Now, banks and credit unions are using cash to attract depositors. The incentives may convince some people to switch [...]

READ MORE

The History of Bank Accounts

June 16, 2014

Opening savings and checking accounts at retail stores seemed like a radical idea in 2012 when American Express and Wal-Mart launched Bluebird accounts. Today, making deposits and cashing checks at one of 4,000 Wal-Marts (deposits [...]

READ MORE

Tired of Overdrafts and Monthly Fees? KeyBank Is on Your Side

June 2, 2014

Free checking accounts are getting harder to find these days as more banks devise ways to squeeze revenue from their customers. In 2012, American banks reported collecting $34.2 billion in service charges on deposit accounts, [...]

READ MORE

Rates

Alternatives to Jumbo CDs

July 10, 2014

Getting a jumbo certificate of deposit (jumbo CD) from a bank used to be an attractive option for many people looking for a risk-free way to invest a large amount of savings. But today, because [...]

READ MORE

When to Consider Getting a CD for the Kid

June 30, 2014

Instilling a sense of financial literacy in children is a valuable life lesson. Having a piggy bank is a good start for teaching the young ones about saving, but as your children get older and [...]

READ MORE

Rising-Rate CDs Explained

June 30, 2014

Investors in certificates of deposit (CDs) typically give up the flexibility to move funds freely in exchange for higher interest rates than they can get on savings accounts. But with rates for CDs near record [...]

READ MORE

Who Uses Certificates of Deposit Anyway?

June 20, 2014

Since interest rates on certificates of deposit (CDs) have dropped during the past few years, a decline in popularity for the savings instruments should come as no surprise. However, this begs the question: Who still [...]

READ MORE

Banking FAQs

Personal Checks Ran Out? There Are Actually Alternatives to Reordering

August 18, 2014

Even though personal checks accounted for less than $20 billion in U.S. transactions in 2012 – down from $40 billion in 2000 – many people still rely on that old-fashioned payment method, particularly in certain [...]

READ MORE

Subprime Auto Loans: Boon or Bane?

August 12, 2014

For consumers down on their luck with a checkered borrowing history and who need a car, subprime auto loans sound promising: they’re easy to get even for people who have a low credit score, are [...]

READ MORE

Can I get an RV Loan at a Bank or Credit Union?

August 7, 2014

Summer is here, and that means vacations, campouts and, of course, road trips. But before you hit the open road or set out on a camping adventure, you may want a recreational vehicle. And before [...]

READ MORE

Learning Personal Finance Lessons Your Parents Actually Skipped

July 31, 2014

Parents have a long list of lessons to teach their children, from tying a shoe to the purpose of a curfew. Perhaps money management didn’t make the cut in your childhood curriculum. While almost three-quarters [...]

READ MORE