All Posts Tagged With: "banking"
5 Reasons You Should Pay Attention to Receipts
For many consumers, receipts are just a nuisance that are quickly thrown away. But receipts play an important part in our personal financial life. It can be wise to get into the habit of storing receipts in a shoebox, basket or filing folder so you’ll have what you need for budgeting and tax purposes. Make [...]
Reconsider How You Bank: Tips for Making a Change
With the many new regulations being imposed on and by the large national banks, consumers need to keep up with the times in order to stay ahead financially. Banks used to compete for business by offering a large selection of free services. These services have become so common for banking customers few actually realize when [...]
Social Security Adminstration Plans to Eliminate Paper Checks
If you are waiting by the mailbox for your new Social Security check you are going to have a long wait. The Social Security Administration announced that anyone signing up to receive Social Security benefits next week will not be eligible to receive paper checks through the mail. In fact, other government benefits recipients will [...]
Bank of America (NYSE: BAC) Leaks Suggest Fraud and More
Bank of America (NYSE: BAC) is getting ready for the fallout after WikiLeaks claimed to have access to an executive’s hard drive. But just when the bank thought they had heard the worst, an independent source has claimed they have emails from Balboa Insurance, a division of the bank that was sold to Australia’s QBE [...]
Bank of America (NYSE: BAC) Introduces New Checking Fees
Bank of America (NYSE: BAC) has introduced its new monthly fees for customers that maintain checking accounts with the banking institution. The fees ranging from $5-$25 each month for service will be introduced in different regions throughout this year. Beginning later in 2011, the checking account fees on customer accounts will be introduced in Massachusetts, [...]
Bank of America (NYSE: BAC) CEO to Receive Big Time Bonus Money
Chief Executive Officer for Bank of America (NYSE: BAC)Brian Moynihan will be the recipient of a $9.05 million bonus after his first year leading the largest lender in the US. The bonus amount totals more than Bank of America has given to its investment banking head. The bonus for Moynihan was give as restricted stock [...]
Bank of America (NYSE: BAC) Cuts Out Free Checking Offers
Bank of America (NYSE: BAC) announced this week it is making some big changes to its basic checking account services. The bank will discontinue offering totally free checking accounts to its new customers. Now the bank will impose stipulations on basic checking accounts including minimum balance requirements and out-of-branch-only banking. The move by Bank of [...]
Bank of America (NYSE:BAC) Head Above the Rest for Home Modifications
Bank of America (NYSE: BAC)has announced their participation in mortgage modifications since January 2008 has provided modifications to more than 680,000 homeowners, putting it in the lead over other lenders. This data includes the 79,859 modifications that were part of the Home Affordable Modification Program (HAMP) under the US government. The bank is said to [...]
Citigroup (NYSE: C) Bans Analyst Over Accusations of Tax Assets Misuse
Citigroup (NYSE: C), no stranger to controversy, is in the news once again due to its decision to ban banking analyst Michael Mayo. Citigroup froze Mayo out in late Auguest after he essentially pointed the finger at the bank for using deferred tax assets against the rules of accounting. Mayo’s complaint contends that Citigroup is [...]
829 US Banks Still At Risk Says FDIC
The FDIC says that more than a tenth of banks in the United States are still at risk of failing even though the economy is showing improvement. Out of the 7,800 banks in the US, 829 were still having problems. Another 118 banks have failed already in 2010. For the first time in 38 years, [...]
Bank of America (NYSE: BOA) Website Down for Customers
Customers of Bank of America (NYSE: BOA) were out of luck for about four hours yesterday when a glitch in the company’s website cause the online banking service to shut down. Bank of America, based in Charlotte, NC, did not give specifics about the problem, only citing a ‘temporary system’ error. The glitch only affected [...]
Citibank (NYSE: C) Identifies Security Flaw in iPhone App
Citibank (NYSE:C) understands the importance of protecting sensitive banking information. That is one reason that Citibank has admitted to security breaches in the iPhone app. Admitting that there is a breach that could allow sensitive information to be stolen by enterprising hackers is a big step, but who is responsible? Is it the Citibank security or the [...]
Wachovia Name Being Phased Out By Wells Fargo (NYSE: WFC)
It may take some time but the Wachovia name will soon be gone. Wells Fargo (NYSE: WFC) took over Wachovia Bank in December 2008 and the move to phase out the name is going forward. Evidence is cropping up around the country where Wachovia signs on buildings are being replaced by Wells Fargo signs. This [...]
Bank of America (NYSE: BAC) On the Fast-Track for Growth
Bank of America (NYSE: BAC) is focusing on its better business strategies moving forward after getting back on track after big mistakes in the recent path. The CEO of Bank of America, Brian Moynihan, has announced a plan outlined for pursuing new business in growing markets. The company hopes to solidify better relationships with its [...]
Debit Card Overdrafts Thing of the Past at Bank of America
Bank of America ((NYSE: BAC) has brought to an end the overdraft fees associated with debit card purchases. This decision can end up costing the bank tens of millions in revenue each year but it would also force the hand of other banks to do the same, which is good news for consumers. In the [...]
Are You Worried Your Bank Will Fail?
Last year more than 702 banks across the nation were in trouble. The FDIC keeps the list and does not reveal the name of the banks experiencing problems. As many bank customers have seen the fallout from other banks that have folded, many continue to worry they will soon be in the same position. Experts [...]
Find More Rewards With Debit Cards
Americans are scaling back on their credit card application and usage since the credit crisis of the last few years. More consumers are switching over to debit cards, trying to maintain a cash-only existence. It is estimated that there are now more debit than credit card users according to the latest research statistics. Since debit [...]
FBI Warns Consumes of Cyber Scam Robbing Bank Accounts
The FBI works to stay on top of the latest cyber-crimes that can seriously affect consumers and their private information, including finances. Earlier this month, the FBI issued a press release outlining a trend in online crimes against consumers and businesses. The FBI’s press releases states “Within the last several months, the FBI has seen [...]
Free May Be Thing of the Past At Your Bank
Following the increase in fees concerning bank credit cards, it looks like many banks will also be doing away with free services like checking and savings accounts. Banks, such as Citibank, will now be tacking on fees to previously free services. Citibank customers that use the EZ Checking Account used to have fees waived if [...]
Consumer Debit Card Use Getting Expensive
If you have had a debit card for any length of time, you know the benefit and ease of use that they offer. They are just like writing a check, but without the check. And, they are processed as either a debit transaction with your PIN or as a credit card. In short, they seem [...]
Notice Your Junk Mail Pile Getting Bigger?
As banks are seeking more and more new ways to increase their profits, many are turning to what’s already in front of their nose – their own customers. According to recent information from market research companies, banking institutions are increasing the amount of direct mail and email solicitations they send to their current customers, in [...]
Forget Citigroup – Wachovia Acquired by Wells Fargo
Wachovia Bank customers may not know how close they came to not having a banking institution. Last week, Wachovia Banks was running but with strong concerns that the bank would not be open for this week. Before any deals were being worked out, Wachovia did not have a source of liquidity and under those circumstances, [...]
Forget Citigroup – Wachovia Acquired by Wells Fargo
Wachovia Bank customers may not know how close they came to not having a banking institution. Last week, Wachovia Bank was running but with strong concerns that the bank would not be open for this week. Before any deals were being worked out, Wachovia did not have a source of liquidity and under those circumstances, [...]
Do Something New…and Save a Few $$$
Our busy lives often tend to get us stuck in a rut of doing the same old things the same old way. Sometimes those same old things could end up costing you money. Analyze your own weekly routine and see if any of this sounds familiar to you. If so, consider making some changes and [...]
Re-Evaluating Your Bank May Save You Money
Many consumers do not often think much about their bank unless there is an accounting discrepancy or fees have been raided noticeably, but re-evaluating your financial institution is something you should consider when trying to reduce your overall expenses. When people first open an account at a bank, they usually select a branch that is [...]
Banking Reviews: UnivestDirect Offering Amazing Deals on Online Checking and Online Savings
When it came to shopping for a bank twenty years ago, you might have the choice between three or four different banks that served your local community. They would all offer about the same level of service and a very familiar banking experience, but thanks to the rapid expansion of technology and hyper-capitalism, we now [...]
Falling Like Dominoes: E-Loan Next Major Bank to Get Hit By Sub-Prime Mortgage Woes
For the last few years, you could fall over backwards and get a mortgage. You could get a loan just by telling someone on a handshake what your income is without ever even proving that fact with documentation. Mortgage companies were selling people loans that amortized over 50 years and loans in which the payments [...]
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We are retired and live on a grocery budget of $200 a month for 2 people in the Midwest. That ...