Current Events and Banking Industry News

Biometric Banking World Opens With Apple Security App

July 31, 2014

After painstakingly typing a password to download every Angry Birds update, Apple iPhone users got a break with the latest 5s model’s fingerprint scanner. The addition could mark a turning point for biometric security technology, [...]

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Shuttered Rome Finance Gives Up $92 Million Owed by Soldiers

July 29, 2014

Colfax Capital, dubbed a predatory lender by the U.S. Consumer Financial Protection Bureau, agreed to forfeit $92 million in outstanding debts owed by 17,000 active-duty military personnel and other consumers in a settlement that effectively [...]

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Mortgage Relief Scams Target Desperate Homeowners, Agencies Warn

July 24, 2014

Federal and state authorities are cracking down on mortgage relief scams that prey on desperate homeowners by promising to help stave off foreclosure while collecting illegal upfront fees and often failing to deliver any relief. [...]

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Prepaid Card Complaints Added to Consumer Agency’s Mission

July 22, 2014

Prepaid card provider left you feeling ripped off? If you think you’ve been taken for a ride, the U.S. Consumer Financial Protection Bureau wants to know. Starting this week, the agency is broadening the range [...]

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Checking

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 [...]

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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 [...]

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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, [...]

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Graduation Ahead: What Will It Mean for My Bank Account?

May 9, 2014

Graduation from high school or college opens up the chance for a whole new level of independence and exciting experiences. It also may bring a number of unexpected changes, including the terms of your bank [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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Banking FAQs

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 [...]

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Traveler’s Check Use Declines as Cards Replace Cash Standby

July 24, 2014

Traveler’s checks were once hailed as a convenient method of payment that vacationers  shouldn’t leave home without. Favored for their security, these drafts were frequently used by people who wanted a safe way to carry [...]

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Do Payday Loans Ever Make Financial Sense?

July 17, 2014

Is there ever a time to use a payday loan? Living paycheck-to-paycheck can wear you down. Spending every penny of your income leaves no room for error. While such behavior may be thought of as a [...]

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How to Choose the Most Rewarding Type of Card

July 16, 2014

As more consumers turn to plastic, banks have revived rewards programs on checking accounts and debit cards to better compete with credit-card issuers, and that means consumers have more to choose from to earn rewards [...]

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