About 18 months ago, bank failures were at the center of the news as storied financial institutions like Washington Mutual, Wachovia, Lehman Brothers, and Merrill Lynch all disappeared as standalone organizations. Media outlets were abuzz with news of these epic failures or last-ditch mergers.
Today, although bank failures continue to happen, they have become commonplace and less newsworthy, especially as there have been fewer large banks in the mix.
But that doesn’t mean that banks are out of the ...
Over the past few weeks, three large banks announced that they launched a new service called PopMoney, a technology that allows consumers to send funds to the mobile phones or email accounts of friends. The service is now available to PNC Bank, FNBO Direct, and First Hawaiian Bank customers, and is similar to a service that Paypal has offered for a while.
The way PopMoney works is that customers login to either their bank web site or mobile phone application ...
With all of the turmoil in the banking sector in the past year, many have considered switching banks because they’re either worried that their bank will fail, or they’re upset with their bank because it took taxpayer money and yet still awards its managers with large bonuses.
However, it’s often the banks that are least healthy (many of which have been the recipients of government loans) that are willing to offer the highest interest rates to savers ...
The FDIC recently released its Q3 banking report, and the headliner sounds like good news. According to the report, the overall industry earned a profit of $2.8 billion this quarter compared to a total industry loss of $4.3 billion for the second quarter of 2009.
However, there are reasons to believe these profits are misleading, especially since other statistics show again that the banking industry is getting worse as opposed to better. The report also revealed the following ...
Planning to withdraw money from an ATM next time you travel abroad? If so, check in advance how much your bank will charge you in fees. Financial institutions differ dramatically in their policies, and you may be surprised at how much you will ultimately pay.
To illustrate these discrepancies, we examined the policies of five popular U.S.-based banks to assess how much it would cost for someone with a minimal balance to withdraw 100 Euros from a foreign ...
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