The banks have lost the swipe fee battle, and soon it’s expected that every time a debit card is used, the store where that card is swiped will collect a little more money, and the institution issuing that card will collect a …
Banking
Typical Checking Accounts Pay 0% Interest. But One Earns Upwards of 6% APY?
A new study on high-yield checking accounts shows that banks can do more than charge fees and serve as holding pens for your money as it slowly loses its value. Many of these accounts earn 3%, 4%, even over 6% guaranteed, though …
Is the ATM Cash-Dispensing Sound Fake?
In true Pavlovian form, humans are accustomed to getting excited at the sweet sound of an ATM dispensing cash. But is that sound artificially generated? If so, why?
Profitable Nonviolence
How the surprising effects of violent movies can help us to make smarter money decisions.
Economic Doom, By the Numbers
Unemployment, misery, workplace dissatisfaction, the disappearing American Dream, forecasts of another Great Depression … Yikes!
Banks Are Hurting? It’s All Relative
The latest out of Wall Street-land is a warning by analysts at Citibank that profits at Goldman Sachs and Morgan Stanley (and to a lesser degree at other banks as well) will show a sharp contraction for the second quarter of …
139 Money Tips: Father’s Day Freebies, Designer Clothing on the Cheap, Most Annoying Bank Fees
This week’s link roundup also includes simple rules of thumb for buying everything from coffee to a home, and insights as to why personal finance can be as tricky—and messy—as potty training.
Capital One Buys ING Direct, and Customers Start to Freak Out
Please don’t change ING Direct. Customers have stuck with the online bank (and put up with the company’s blinding trademark bright orange colors) because setting up an account is easy, the interface and bill-paying features are …
The Coming Wave of Non-Credit Cards
We predicted that more major financial institutions would launch prepaid debit cards in response to the combination of increased regulation and a ballooning number of people who can’t get a credit or debit card. American Express …
Citi Data Breach: Are Hackers Getting Smarter?
It’s been a rough week for the banks. First, the Senate votes to go ahead with the debit fee cap that kicks in next month, then the Financial Times reports that hackers successfully broke into Citigroup’s North American card …
Billion-Dollar Swipe Fee Battle Inches Toward Senate
Senator Jon Tester, the Montana Democrat who kicked off a flurry of lobbying from retailers and bankers when he sponsored legislation to delay the implementation of a reform on debit interchange or “swipe” fees, took to the Senate floor along with his co-sponsors today to present a proposal.
“History suggests that business doesn’t always know what’s good for it.”