Current Events and Banking Industry News

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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Wells Fargo Joins Banks Altering Maligned Check Processing Method

July 18, 2014

Wells Fargo next month will begin processing customers’ checks in the order that they’re received, abandoning a practice that has been criticized as a way to increase the chances that an account will be overdrawn. [...]

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Postal Service Eyes Banking to Help Save `Snail Mail’

July 10, 2014

Plunging demand for “snail mail’’ led to a loss of about $5 billion last year for the U.S. Postal Service, and while that’s a third of its 2012 deficit, the flood of red ink has [...]

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Checking

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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My Debit Card Is Missing — What Now?

April 25, 2014

You’re looking for your debit card to pay for your morning latte when you realize that it’s not there. You search frantically for this all-important piece of plastic, only to come up empty. Maybe you [...]

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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

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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When to Consider CDs over a Regular Savings Account

July 16, 2014

When you’re looking to try out alternative savings products, you’ll find a few options, including certificates of deposit (CDs), to compare. While just 12% of U.S. families had money in a CD in 2010, according [...]

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