Banking News


Banking News

Banking news provides the latest in the banking industry. Financial industries are constantly in flux, and any change in the economy may have effects on businesses, homeowners, or the average citizen at any time. Find out the most important and most relevant financial and Banking News here, and learn whether it will affect you and your finances.

Top Banking Customer Service Award to Bank of America and Wells Fargo

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While there is no formal award for being the top bank for banking customer service, a recent survey of banking customers ranked Bank of American and Wells Fargo at the top over Chase and Citi, the four major banking entities in the United States. The survey asked customers about phone-based customer service and was conducted [...]

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Bank of America Growth May Be Deceptive

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This week Bank of America posted a nice third-quarter profit, but investors are not ready to start rejoicing just yet. The bank has yet to prove that it is turning things around, and mortgage losses and lawsuits are countering the gains they experienced.
The gains came primarily from a combination of cautious investing across the board [...]

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Online Banking and eCommerce May Be at Risk

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More and more, consumers are turning to the Internet to help them manage their finances, from paying bills to checking accounts online, and even shopping. Yet, a recent successful hack shows that these online banking and shopping venues may not be as secure as we once thought.
When you shop or bank online, you are taught [...]

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More Complete Mobile Banking Platform to Launch Soon

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This week, Computer Services, Inc., has recently partnered with Malauzai Software, a banking application provider for mobile devices, to create SmartApps. This is a new mobile banking platform that is more detailed and complete for customers who use the iPhone and Android devices.
This new platform will allow banks and other financial institutions to provide more [...]

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Citibank Plans to Target New Banking Demographic

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In a world that is quickly becoming ruled by banking giants, those who are succeeding are having to find new markets to target. Citibank is turning its eyes on its affluent customer bank through its new smart banking branch network it is releasing in its Australia market.
The target market for Citi is that made up [...]

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Payment Alternatives May Doom Large Banks in the Future

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Large banks are reeling at the effects of Dodd-Frank and other banking reform laws that limited the fees they had come to depend on. Where in the past banks were charging merchants as much as 44 cents for debit card swipes, now they are capped at less than 25 cents, and that is a huge [...]

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Money Market Funds May Prove Risky Investment

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For years, money market funds were considered one of the safest investments available to the modern investor. While no investment is without risk entirely, these were considered safe because they were tied to government securities and treasury notes. Because of the stability of the government, this was considered a “safe” investment option.
That is no longer [...]

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Banking Fees Increase But Customers Have Options

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The year 2011 started with announcements from several major banks that banking fees were going to be increasing. Those who are customers of some of the biggest American banks have found this to be true. Everything, from the fees simply to have an account, to late fees and other penalties, have gone up.
Banking executives have [...]

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Ways to Avoid a Credit Card Crisis

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If you have been paying attention to the recent financial news over the past several weeks, then you have noticed the record low mortgage rates, rising poverty rates, the rise of recent college graduates filing for bankruptcy, an increase in foreclosures, and the other things resembling the effects of a double dip recession.  If you [...]

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Effects of a Double Dip Recession May Be Imminent

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People have been talking for quite a while about the possibility of a double-dip recession, and recent banking news and studies indicate there is an 80 percent chance of this happening within the next year. In fact, the Philadelphia Federal Reserve and the University of Michigan have the percent as high as 85.7 percent. That [...]

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