bank

'Bank' Pays Interest in Ice Cream, Drawing Fire from Regulators

State regulators are cool to a Pittsburgh businessman's idea for a bank that pays interest in ice cream shop gift cards. The Pennsylvania Department of Banking says they want Ethan Clay to shut down the community bank he's set up at Oh Yeah! ice cream and coffee shop.

Fee Backlash Cost Big Banks Over 2 Million Customers

Switching banks is a hassle, but outrage over the big financial institutions' efforts to pile on new steep fees pushed more than 2 million people to close their accounts over the past 3 months. Is Bank Transfer Day becoming Bank Transfer Year?

Overdraft Fees Remain High Despite Fed Rules

A year after the Federal Reserve enacted new rules to rein in abusive bank overdraft practices, fees remain high and some institutions actually have slapped on additional penalties, according to a new survey by the Consumer Federation of America.

MetLife Sells Bank Unit to Avoid New Fed Regulations

In order to avoid new federal rules and heightened scrutiny from regulators, MetLife has decided to sell its banking unit. That's a smart move for the nation's largest life insurer, and keeps it on a level playing field with its competitors.

ATM Plus KGB? New Russian Cash Machines Detect Lies

A new Russian ATM makes customers pay for lying: A voice-measured polygraph installed in Russia's state-run Sberbank's electronic tellers can tell if patrons are talking truth or hogwash in applying for a credit card or loan -- an anti-fraud weapon with roots in the old Soviet Union.

New Business for Big Banks: Slumlording

The nation's biggest bailed-out banks have unintentionally entered a new line of work: slumlording. In some cases, major banks have created whole neighborhoods of abandoned and deteriorating foreclosure properties -- and a blight on local municipalities.

Fewer Deadbeats = Higher Profits for Capital One

Capital One's credit card charge-off rate -- the percentage of debt that it's unable to collect -- fell to 4.97% in April. That's the lowest default rate for the company since 2007. Trefis already thought COF stock was undervalued: See what they think the stock's upside is in light of this trend.

Buyers Beware: Business Credit Cards Are a Bad Deal

When the Credit CARD Act of 2009 was enacted, the goal was to make credit cards safer for people, but banks have found a loophole. Those consumer protections weren't extended to cards designated for business or commercial use, and as a result, millions of American households are at risk from the same unfair bank practices as before.

HSBC's Foreclosure 'Moratorium' Has Big Holes in it

HSBC announced late last month that it had put all of its U.S. foreclosures on hold to review their documents -- back in December. So why are its lawyers still pushing cases ahead? HSBC also says it doesn't robo-sign. So why does its annual report mention foreclosure document problems that sound so much like those caused by robo-signing?

Ways to Profit as Banks Add on More Fees

Bank of America is trying to earn more revenue from its existing customer base by requiring customers to use more products and services in order to avoid monthly fees. If the banks are going to charge you more, you might as well profit from them. Here's how.

Japan Cuts Interest Rate to Zero

Japan's central bank has cut its key interest rate to a range of 0% to 0.1%, effectively introducing a zero-interest-rate policy.

Goldman Sachs Earnings Tumble on SEC Settlement

Goldman Sachs earnings fell sharply in the second quarter, hurt by its $550 million settlement with the Securities and Exchange Commission and a U.K. payroll tax, but on an adjusted basis, the investment bank's profits easily topped Wall Street estimates.

Under the Radar: A 'BP' That Looks Like a Good Buy

Shares of Puerto Rico's Banco Popular have fallen about 27% this year and the bank has been called the least expensive big bank in America. Hilary Kramer says that the bad news is now behind the company and the stock has upside potential.

5 reasons to switch to online banks

I still remember when online banks first appeared. People were wary of them because they were new. They were wary of putting their savings at a bank...