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    News and Articles on Checking Accounts

    Archives: Checking Accounts

    Delaying a deposit? Phone it in  Nov 7, 2009
    The mBranch deposit service will only be available to qualified holders of checking accounts ... About 5 percent of Randolph-Brooks 202,000 checking accounts holders use its scan-at-home product. (Austin Business Journal, TX)

    Credit problems rising for Georgia banks  Nov 6, 2009
    One positive is that core checking accounts and non-interest-bearing funds have risen the past two quarters. And loans-to-deposits ratios, or how much leverage a bank has on its balance sheet, has improved for the past three quarters. (Atlanta Business Chronicle, GA)

    Initiative 1033 Loses Badly  Nov 5, 2009
    Initiative 1033 -- the latest in a long line of measures sponsored by Eyman since the 1990s -- proposed a growth cap on revenue flowing into the main checking accounts of city, county and state government. Eyman acknowledged defeat Tuesday night as unofficial returns showed I-1033 being defeated by about 55 percent to 45 percent, with 48 percent of the expected vote counted. (KIRO TV, WA)

    Bank deposits expected to grow 5%-8% in next six months  Nov 5, 2009
    He said banks were running promotions and offered hybrid products like tiered interest-bearing checking accounts, flexible savings accounts, higher-yield term deposits with flexibility for withdrawal and a no-frill preferred rate-savings product to cater to different customer segments. Convenience of transactional payments like debit cards is one form of attraction to depositors. (The Star Online, Malaysia -- Business)

    Programs help 'unbanked' avoid high fees  Nov 5, 2009
    Bank On programs encourage residents to open low- or no-cost checking accounts ... Public scrutiny of overdraft fees on checking accounts, which in 2009 are expected to reach $38. (USA Today)

    Do parents get a say on finances?  Nov 5, 2009
    The woman said her parents didn t know how much she had in savings and checking accounts. They didn t know her current debt amount. (Boston Globe)

    News analysis: Tax activists lose, but roll on  Nov 5, 2009
    But he clearly overreached with Initiative 1033, which would have slapped growth caps on state, county and city checking accounts while doling out property tax cuts and putting any tax hikes on the ballot. As anti-Eyman activist Andrew Villeneuve happily pointed out on Election Night, I-1033 was Eyman's first loss on an anti-tax initiative, his first defeat in an off-year election, and the first time he's lost at the ballot two years in a row. (Longview Daily News, WA)

    BNY Mellon, US Bancorp Opt out of FDIC Extension  Nov 3, 2009
    The program, part of the wider effort to shore up banks during the height of last year's crisis, offers Federal Deposit Insurance Corp. coverage for non-interest bearing accounts, like checking accounts, with balances above $250,000. Meanwhile, Regions Financial Corp. said Monday it had extended its participation in the program, which provides unlimited coverage on certain NOW checking accounts and interest on lawyers trust accounts. (ABC News -- Wire)

    Congress prepares to curb bank overdraft fees  Nov 2, 2009
    By Kathy Chu, USA TODAY The movement to reform bank fees is accelerating as Congress takes aim at controversial industry policies that encourage consumers to fall into debt on their checking accounts. The House Financial Services Committee blasted banks and credit unions at a hearing Friday for routinely paying consumers' overdrawn transactions, then charging them steep fees. (USA Today -- Money)

    What to know if your bank fails  Oct 31, 2009
    A: The FDIC covers money deposited in savings accounts, checking accounts and certificates of deposit up to $250,000. But that limit can apply to the same person in several different ownership categories, like single, joint, held-in-trust and retirement accounts. (MSNBC -- Business)

    Tower Financial Corporation Reports Third Quarter Results  Oct 30, 2009
    8 million of growth in our non-interest bearing checking accounts, $34 ... 9 million in interest bearing checking accounts. (Primezone Releases)

    State Officials Look For Owners Of $400 Million  Oct 30, 2009
    The state treasurer's office says the unclaimed funds include dormant balances in savings and checking accounts, unclaimed wages and uncashed checks for insurance benefits. The agency says the money belongs to 887,000 people. (FOX61, CT)

    WPSO substation in Bogalusa closed down  Oct 29, 2009
    sharon achord wrote on Oct 28, 2009 9:25 PM:" What a croc! Someone needs to shake the pockets of politications and look into their checking accounts. There you will probably find taxpayer money with plenty for the fine people that protect and serve us. ". Red wrote on Oct 28, 2009 4:38 PM:" I don't blame the sheriff for closing the Bogalusa officce. You can't spend money you don't have. The people of washington parish only want the best services they can get somebody else to pay for. ". (Bogalusa Daily News, LA)

    Federal complaint: Filipino teachers held in 'servitude'  Oct 28, 2009
    After a series of flights lasting up to 16 hours, they say, Universal's president Navarro and her employees met the teachers at LAX and took them to get Social Security cards and U.S. checking accounts. Then Navarro, herself a Filipino, presented them with a second contract this time for Universal's share of their placement. (USA Today -- News)

    Cisneros right man for San Francisco treasurer  Oct 28, 2009
    The program helps "unbanked" San Franciscans, who are disproportionately low-income, set up checking accounts. Cisneros said they've opened about 35,000 accounts and saved these residents about $2 million in check-cashing fees since the program launched nearly four years ago. (San Francisco Chronicle -- Opinion)

    Collection agencies chase after empty checking accounts  Oct 27, 2009
    for free extra services. Subscribe to Sacramento Business Journal. (Sacramento Business Journal, CA)

    Market Winners & Losers: Amazon, MEMC Electronic Materials  Oct 24, 2009
    Good), and usually amount to 10% of the total cash kept in checking accounts. These reserves are never exactly 10%, and banks like to keep a little extra in reserve not, as you might think, to make you more comfortable that theyre in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (Fox News)

    Consumer groups oppose Ohio phone deregulation  Oct 24, 2009
    Bank customers who overdraw their checking accounts would get new protections from excessive penalties under legislation proposed Monday by the Senate banking committee chairman. The measure unveiled by Sen. (Fresno Bee -- Business)

    Local insurance firm facing another lawsuit after its license was taken away  Oct 23, 2009
    The Bank of Pontiac filed one in September over more than $1 million in unpaid loan extensions and fees from two checking accounts. A status hearing for that suit is scheduled for November. (The Pantagraph newspaper)

    Hawaii banks fee income up 6% in 2009  Oct 23, 2009
    While Hawaii banks, especially the big two, make a significant amount of money from the fees they charge vacationers using their ATMs, they also make money from local customers who overdraw their checking accounts. USA Today reported this week that nationally, U.S. banks are expected to earn $38. (Pacific Business News, HI)

    READ: Wells Fargo's press release  Oct 22, 2009
    Average consumer checking accounts at legacy Wells Fargo grew a net 6 ... -- Consumer checking accounts up a net 5 ... -- Business checking accounts up a net 4. (USA Today -- Money)

    Pastries and finance: a match made in Bellingham  Oct 21, 2009
    Citizens is offering customers at the branch a $50 discount on home equity loans, a one-month coffee subscription for new checking accounts, and a raffle for one year of free Dunkin Donuts coffee. Citizens Bank and Dunkin Donuts executives are hosting an event to celebrate the opening on Oct. 29 that will feature a Cash Cube in which visitors have a chance to win as much cash as they can catch. (Boston Globe)

    Bonne Terre Council hears complaints about water bill, opens bids  Oct 21, 2009
    Councilwoman Cindy Driemeier suggested additional officials names needed to be added to city checking accounts for times like now when the mayor is out of town. At Barton s recommendation, the council removed City Clerk Melinda Watson s name from the list and added Deputy Clerk Dawn Sens and Calvert. (Park Hills Daily Journal, MO)

    Banks target of lawsuits over fees  Oct 21, 2009
    by the found banks and credit unions raked in close to $24 billion in overdraft fees last year as an increasing number of Americans withdrew more from their checking accounts than they had in them. That s a 35 percent increase from just two years ago. (San Jose Business Journal, CA)

    Bank overdraft bill would ease fees  Oct 20, 2009
    WASHINGTON - Bank customers who overdraw their checking accounts would get new protections from excessive penalties under legislation proposed yesterday by the Senate banking committee chairman. The measure unveiled by Senator Christopher Dodd, Democrat of Connecticut, would give people a choice in whether they want to participate in overdraft programs that charge fees for covering ATM withdrawals and debit card transactions. (Boston Globe)

    SunTrust No. 1 in deposits in Atlanta, though lead shrinks  Oct 20, 2009
    SunTrust officials said the decline in market share reflects the bank s effort to reduce the amount of wholesale brokered deposits, which are more expensive and volatile than checking accounts and other kinds of "core" customer deposits. The bank has been targeting those customers for the past year with its "Live Solid. Bank Solid" campaign, helping boost core deposits companywide by 11 percent over the past year, a SunTrust spokesman said. (Atlanta Journal-Constitution -- Business)

    Mercantile Bank Corporation Reports Third Quarter 2009 Results  Oct 20, 2009
    Local deposits increased $185 million during the first nine months of 2009, primarily in certificates of deposit and interest-bearing checking accounts. The increase in local deposits, combined with a $191 million decline in total assets, has allowed Mercantile to reduce brokered deposits by $334 million, or 29. (Primezone Releases)

    Election Focus: Initiative 1033 would slap cap on government growth  Oct 19, 2009
    At its heart is a cap on revenue: The main checking accounts of city, county and state governments would only grow fast enough to keep pace with the rate of inflation and yearly population growth. Any tax money that comes in above the cap would automatically flow into a separate account, which would replace property tax revenue in the following year, cutting a taxpayer's expected bill. (Longview Daily News, WA)

    As new banking rules take effect, banks will look to make up overdraft fees  Oct 17, 2009
    Rather than generic free checking accounts, you re going to see lots of different flavors of products, said Bob Meara, a senior analyst with Celent, a Boston consulting firm for the banking industry. That might mean the return of monthly fees or minimum balances for checking accounts or the bundling of accounts with other services for a fee. (Boston Globe)

    Group claims overdraft programs still a risk  Oct 17, 2009
    "As a result, consumers are permitted to overspend their checking accounts without affirmative consent, do not get comparable cost-to-borrow information and are not warned when a transaction will trigger an overdraft," the consumer group said. Chi Chi Wu, an attorney for the National Consumer Law Center, said overdraft loans "are one of the most expensive and exploitative credit products on the market" and recently announced changes in those programs by some banks will do little to reduce costs... (Daytona Beach News Journal -- Local)

    Citizens opens record number of accounts  Oct 15, 2009
    Citizens Financial opens record number of checking accounts - Pittsburgh Business Times ... Citizens Financial opens record number of checking accounts ... Citizens Financial Group Inc., Providence, R.I., said Wednesday that it opened a record number of new checking accounts between Oct. 3 and Oct. 9, surpassing its previous one-week record set in 2007 by nearly 200 percent. (Pittsburgh Business Times, PA)

    Topix Gains the Most in a Month on Rising Commodities Prices; Banks Climb  Oct 7, 2009
    M1 , which includes all currency held by consumers and companies for spending, money held in checking accounts and travelers checks, stayed at $1. 64 trillion in the week ended Sept. 21, the latest data available. (Bloomberg -- Japan)

    Bank overdraft fees up 35%  Oct 7, 2009
    U.S. banks and credit unions raked in nearly $24 billion in overdraft fees last year as an increasing number of Americans withdrew more from their checking accounts than they had available, according to a study by the. That s a 35 percent increase from just two years ago. (Charlotte Business Journal, NC)

    Consumer and bank relations strained  Oct 7, 2009
    In its most recent fee survey, the American Bankers Association found that 56 percent of customers pay nothing for checking accounts, ATMs and other basic services, and that 14 percent pay $3 or less a month. But banks do levy a lot of fees that can bite the unwary. (AZCentral -- Business)

    Rival banks targeting TD customers after computer troubles  Oct 6, 2009
    Rival banks are targeting unhappy Philadelphia-area customers with promotional campaigns to get them to open checking accounts at their institutions ... Citizens said the offer had an unprecedented response from consumers who flocked to Citizens Bank branches over the weekend and opened thousands of new checking accounts ... According to bank executives, local Citizens Bank branches typically open several hundred checking accounts in a normal weekend, but this past weekend the volumes were seven... (Philadelphia Business Journal, PA)

    Treasurer Tim Cahill announces abandoned property listings  Oct 2, 2009
    Abandoned property includes forgotten savings and checking accounts; uncashed checks; insurance policy proceeds; stocks; dividends; and contents of abandoned safe deposit boxes. After three years of no customer-generated activity, most accounts are considered abandoned and are turned over to the Treasury. (Needham Tab, MA)

    Bankrate: Fees at an all-time high  Oct 1, 2009
    The fees associated with checking accounts have risen this year to an all-time high, according to. Bankrate looked at average fees associated with savings and checking accounts, bounced checks, ATMs and monthly service fees. (San Jose Business Journal, CA)

    ATM fees rising for other banks' customers  Oct 1, 2009
    Checking accounts that bear interest don't seem to be a good deal. The average minimum balance is $3,372. (San Francisco Chronicle -- Business)

    Singletary: Who is protected on overdrafts?  Oct 1, 2009
    The national median for overdraft fees on consumer checking accounts, debit cards and ATMs increased to 26 per incident in 2009, up from 25 in 2008, according to Moebs Services, an economic research firm based in Lake Bluff, Ill. The firm collects and analyzes pricing trends for government agencies such as the Federal Reserve and the Government Accountability Office. (Green Valley News & Sun, AZ)

    Overdraft protection fees get a good look  Sep 30, 2009
    Overdraft programs for checking accounts are now an industry standard, meaning most bank customers can accidentally spend more money than they have - and will be charged a fee when they do ... The national median for overdraft fees on consumer checking accounts, debit cards and ATMs has increased to $26 per incident in 2009, up from $25 in 2008, according to Moebs Services, an economic research firm based in Lake Bluff, Ill. (Fresno Bee -- Business)

    Overdraft policies to change at U.S. Bank  Sep 25, 2009
    U.S. Bank is the latest bank with a large Colorado presence to announce a change in its overdraft policies for checking accounts, following Wells Fargo and Chase. U.S. Bank -- third largest in Colorado by deposits -- said Thursday its changes would take effect at the beginning of 2010. (Denver Business Journal, CO)

    Bank of America, JPMorgan Trim Overdraft Fees Amid Criticism From Congress  Sep 23, 2009
    The two banks, which currently enroll all checking accounts in overdraft protection, will allow consumers to opt out of the service, eliminating the potential for paying overdraft fees ... will apply the changes to all current and new checking accounts, to take effect in the first quarter of 2010. (Bloomberg -- US)

    Under scrutiny, Bank of America to scale down overdraft fees  Sep 23, 2009
    Bank of America's deposits segment, which includes checking accounts and other services, collected $3. 3 billion from all service charges in the first half of this year. (Fresno Bee -- Lifestyle)

    No more free stuff for credit card applications  Sep 23, 2009
    As an alternative, parents can set up checking accounts for their kids, or get them a debit card that is tied to a pre-funded account. Once the young adult has demonstrated that he or she can be responsible with money, credit card talks can begin. (MSNBC -- Business)

    Sen. Dodd Calls to Curb Overdraft Fees  Sep 19, 2009
    "You need to give them mortgages they can afford and credit cards they can understand, small-dollar loans at reasonable rates, checking accounts without those usurious overdraft fees," Bair said. The Center for Responsible Lending estimates that consumers pay some $17. (Newsmax)

    State revokes the license of Pontiac insurance agent  Sep 19, 2009
    Bertsche and his company also face a lawsuit filed last week by the Bank of Pontiac for more than $1 million in unpaid loan extensions and fees from two checking accounts. Calls to the firm for comment were not immediately returned. (The Pantagraph newspaper)

    US net worth grows  Sep 18, 2009
    Net worth -- the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards -- rose nearly 4 percent from the first quarter, the Fed said ... Net worth -- the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards -- rose nearly 4 percent from the first quarter, the Fed said. (New York Post -- Business)

    Americans' Net Worth Rose in 2nd Quarter  Sep 18, 2009
    Net worth, or the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards, rose nearly 4 percent from the first quarter, the Fed said. Even with the gain, Americans' net worth stands well below the $65. (CBS News -- US)

    Money Fund Assets Fell to $3.482T in Latest Week  Sep 18, 2009
    -based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts fell to 0. 12 percent from 0. (ABC News -- Wire)

    For first time in two years Americans get wealthier  Sep 18, 2009
    Net worth - the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards - came to $53. 1 trillion for the second quarter. (The Star Online, Malaysia)

    Financial Innovation Under Fire  Sep 17, 2009
    For example, prepaid debit cards allow people who don't have checking accounts to make electronic payments and avoid carrying around a lot of cash. But they're controversial with regulators because the convenience comes at a cost: high fees. (BusinessWeek)

    End the Fed -- A Preview  Sep 17, 2009
    The bank loans out money that has been warehoused and stands ready to use in checking accounts or other forms of checkable deposits and that loaned money is deposited yet again in checkable deposits. It is loaned out again and deposited, with each depositor treating the loan money as an asset on the books. (The American Conservative)

    Rangel a sign of the times  Sep 13, 2009
    Rangel also acknowledged that he improperly listed his assets, as required by law, and failed to report additional checking accounts valued between $250,000 and $500,000 -- princely sums acquired on a congressional salary. Try also hypocrisy. (Fresno Bee -- Opinion)

    Life skills for teens: Laundry, money management  Sep 13, 2009
    For high school students, some banks offer checking accounts, and most allow parents to open joint accounts with their kids. Last year, I opened a checking account for my son where the paychecks from his after-school job could be automatically deposited, so he wouldn't have to rely on me to cash them. (The Augusta Chronicle)

    Clinton puts hold on some new businesses  Sep 12, 2009
    "Our customers are average, working-class folks who are educated and have checking accounts. We are located in nice shopping centers. We're a financial institution just like a bank. Why are they picking on us?". "I've heard from many in the city that this (moratorium) is exactly the type thing they want to see," said Clinton dentist and Planning and Zoning commission member Ryan Tracy. (The Clarion-Ledger)

    Pontiac bank sues local insurance firm over unpaid loans  Sep 10, 2009
    PONTIAC - The Bank of Pontiac is suing a local insurance firm for more than $1 million in unpaid loan extensions and fees from two checking accounts ... The bank alleges the firm owes about $886,000 in extended credit and seeks about $143,000 in overdraw fees from two checking accounts. (The Pantagraph newspaper)

    Teaching Children About Investing  Sep 2, 2009
    People under 18 generally do not have checking accounts, meaning that teens will not have to balance a check book. Rather, they will have a passbook with their updated balances. (Suite101.com)

    Beware Bogus Bargains  Sep 2, 2009
    Among the categories to take a close look at before signing on the dotted line: unlimited long distance, frequent-flier rewards cards, checking accounts that pay interest, extended warranty protection, and fraud alerts. MMIX, CBS Interactive Inc. All Rights Reserved. (CBS News -- Early Show)

    Odessan faces federal charges  Sep 1, 2009
    The release said Curry then reportedly used the checking accounts to take thousands of dollars in money or goods. He also used IDs to obtain credit cards, according to the release. (Odessa American, TX)

    Something's Got to Give  Aug 30, 2009
    Yes, you are due the programs, but it is not like the government has special checking accounts from SS, Medicare and Medicaid. Location: AR Reply # 2 Date: Aug 30, 2009 - 3:28 AM EST Connor's Untruth. (Townhall.com)

    Rangel Hides Income and Assets...  Aug 29, 2009
    When you're a powerful Congressman and working diligently to increase tax rates to pay for President Obama's health-care plan, we suppose it's easy to lose track of one of your checking accounts. That would be the one at the federal credit union with a balance somewhere between $250,001 and maybe as high as $500,000. (The Drudge Report)

    Startup raises $4M to take on credit cards, PayPal  Aug 29, 2009
    The year-old firm is taking on credit cards and with an online payment method that allows consumers to buy products and services securely with their checking accounts. Moneta leverages banks for customer acquisitions marketing its payment product to the bank s account holders. (Atlanta Business Chronicle, GA)

    National Suicide  Aug 25, 2009
    For most of us who think a $1,000 deposit in our checking accounts is a large amount and a $1,000 credit card balance is too much, $9 trillion is a figure that is almost beyond comprehension. It is certainly beyond defensible. (Townhall.com)

    What is a credit union? (2)  Aug 25, 2009
    Credit unions offer most financial services found at banks, including loans, savings accounts, checking accounts, IRAs, and Internet account access. Because they exist primarily to serve their member-owners with low-cost financial services, consumers have ranked credit unions as the leaders among financial institutions in customer satisfaction for the last 21 years. (Cleveland Jewish News, OH)

    Prospect Mortgage Expands in Midwest  Aug 21, 2009
    "All we do is mortgages, not checking accounts or car loans. We are mortgage specialists. We can provide REO lists to clients to take advantage of a permanent interest rate buy-down and buyer's closing costs of up to 6% of the sale price offered on some of these properties.". For more information, visit or call Joe Perry (630) 675-1244, Mary Bane (630) 479-8200 or Cliff Theriault (847) 273-1096. (PR Newswire)

    Dental Worker Accused Of Taking Patients' Money  Aug 21, 2009
    The suspect also allegedly used her employers' credit-card terminals to refund money to checking accounts to which she had access, according to Henton. Forbes was arraigned by Judge Francis Devaney, who ordered her to return to court Sept. 1 for a readiness conference and the following day for a preliminary hearing. (TheSanDiegoChannel.com, CA)

    Big spending Fed's balance sheet tops $US2tn  Aug 21, 2009
    M1 includes all currency held by consumers and companies for spending, money held in checking accounts and travelers checks. M2, the more widely followed, adds savings and private holdings in money market mutual funds. (Sydney Morning Herald -- Business)

    Weatherization grant helps Phoenix family  Aug 20, 2009
    It will allow families "to save money and not put it literally into the air and out of walls and out the doors," Gordon said, "but keep it in their checking accounts so they can buy new computers, or go on trips and get new clothes.". Arizona, Kansas, Oregon and Mississippi were the first states to receive a portion of the $5 billion in stimulus money earmarked to expand home-weatherization programs nationwide. (AZCentral -- News)

    IRS cracks open 4,450 Swiss bank accounts  Aug 20, 2009
    " Two Swiss newspapers reported last weekend that the targeted UBS clients face up to $3.7 billion in back taxes and penalties. But while Mr. Villiger put on a brave face, some are wondering if the Swiss banking industry will suffer after the disclosures. Tarnished reputation Bruce Zagaris, a tax lawyer who represents several UBS clients, said the Swiss reputation for secrecy has "absolutely" been tarnished. Mr. Zagaris said that the Swiss prize their ability to protect customers from the prying... (Christian Science Monitor -- USA)

    AG wants to shut Buffalo collection co.  Aug 19, 2009
    Fearful of facing arrest and public humiliation, consumers authorized withdrawals from their checking accounts and sent Western Union money grams or money orders. According to the AG s office, in one instance, a Benning-Smith collector kept repeating the name of a consumer s daughter, describing various sexual things he would do to her unless the debt was paid. (Buffalo Business First, NY)

    Group meets to discuss health care reform  Aug 15, 2009
    It would not be used to take money directly from checking accounts if people were turned over to a collection agency. Another myth she addressed were Social Security numbers. (Park Hills Daily Journal, MO)

    Credit card firms flagging spending on thrift store, spas, counseling, porn to gauge your credit risk  Aug 15, 2009
    use cash or debit cards against your checking accounts. It's really easy to run up credit card balances and the companies know that it's difficult to collect on certain kinds of charges. (The Palm Beach Post)

    BB&T to take over Colonial Bank  Aug 15, 2009
    All Colonial Bank deposits are available to customers through offices and checking accounts. BB&T will integrate its branches into the 346 branches of Colonial Bank, which operates in Alabama, Florida, Georgia, Nevada and Texas. (South Florida Business Journal, FL)

    banks make $38bn from overdraft fees  Aug 14, 2009
    The most cash-strapped customers are the hardest hit by such fees, with 90 per cent of overdraft revenues coming from 10 per cent of the 130m checking accounts in the US. Regular use of overdrafts is most common among consumers with low credit scores, Moebs discovered. Banks say that the fees compensate for the risk they incur when they pay on behalf of customers who do not have enough money in their accounts. (Harper's Magazine)

    Bancolombia S.A. Announces Unconsolidated Results for the Month of July 2009*  Aug 13, 2009
    0% of total checking accounts, 20. 8% of total savings accounts, 17. (PR Newswire)

    Audits highlight bank failures  Aug 12, 2009
    To fuel its growth, the bank turned to wholesale deposits brokered by national dealers -- funds that are more expensive to generate than other sources such as checking accounts, which can be hard to attract in competitive markets like Atlanta. The higher interest rates Haven Trust had to pay for deposits, the audit said, forced the bank to take greater risks to maintain profits. (Atlanta Journal-Constitution -- Business)

    Credit card companies fail, businesses scramble (41)  Aug 11, 2009
    When a depositor isn t paying its bank and the depositor has money in its checking accounts, what s the bank going to do. Renken asked. (Corvallis Gazette Times, OR)

    5 Questions: SEAP offers assistance to struggling state workers  Aug 8, 2009
    Though those back wages are scheduled to finally make an appearance in checking accounts by Monday, state employees may still be in need of assistance and guidance, especially when about 300 workers can expect the pink slip under budget cuts. Heather Tyler wanted state workers to know that there is still assistance out there for those who need it. (Carlisle Sentinel, PA)

    Successfully Preparing Teens for Ad...  Aug 8, 2009
    Checking Accounts Teach Budgeting. It is critical for teens to learn how to balance a checkbook and budget their money. (Suite101.com)

    Arvest Bank to Acquire Harrington Bank Branches in Kansas City Market  Aug 7, 2009
    Arvest Bank participates in the FDIC's Transaction Account Guarantee Program which provides unlimited FDIC deposit insurance coverage to non-interest checking accounts so that deposit customers have access to the full FDIC coverage. Arvest Bank offers a wide range of financial products and services including loans, deposits, credit cards, trust, brokerage, life insurance, mortgage loans, servicing of mortgage loans and electronic banking. (PR Newswire)

    Using CRM to Survive the Recession  Aug 7, 2009
    One of the primary drivers of the mergers and acquisitions wave was so the bank could be a financial supermarket it could offer savings accounts, checking accounts, stocks, bonds, insurance policies, retirement plans, mutual funds. And launder your dirty socks, too. (Datamation)

    Credit card issuers pile on new fees  Aug 6, 2009
    One way they're doing so is making it easier or costlier for consumers to spend more than they have in their checking accounts, just as they allow borrowers to spend past their card limits and charge them a fee. In June, raised its monthly fee on certain checking accounts and imposed a fee on accounts that remain overdrawn. (USA Today -- Money)

    Investors Bancorp, Inc. Announces Fourth Quarter and Year-End Financial Results  Aug 5, 2009
    Checking accounts, certificates of deposits, savings deposits, and money market account deposits increased by $497. 7 million, $382. (PR Newswire)

    Mid-Market Firms Rank Their Banks' Service Delivery  Aug 4, 2009
    The group on average saw an 18% increase in "analyzed checking accounts," the accounts that middle-market businesses use to deposit funds from their operations and write checks to vendors. Conversely, the banks on average saw a 4% decline in money market accounts and a 23% decline in sweep accounts. (American Banker)

    Wrong spending priorities  Aug 4, 2009
    The Walmart MoneyCenter will provide affordable access to essential money services for the growing number of underserved North Carolinians, including many who are not using traditional checking accounts to manage their finances. Walmart expects this effort--and its everyday low prices on money services like check cashing bill payment and money transfers--to help consumers stretch family budgets and save more than $500 million* in money service fees this year. (Fresno Bee -- Opinion)

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