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Banking

Damage Control: Taking an Unwarranted Vacation (From My Finances)

by Luke Landes
San Francisco

This week should have been a vacation. It has been, for the most part, but not entirely. While I’ve traveled occasionally over the past few years, and even chosen destinations meant for relaxation and time alone with loved ones, I haven’t had one of those fabled true vacations. My cell phone was still near by. […]

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Barclays Online Savings Review

by Luke Landes
Barclay's Online Savings Account Review

Barclays has enjoyed a long and storied history as a financial industry leader in the United Kingdom. While those of us in the United States often consider a financial company to be well established once it passes its centennial, Barclays was founded in 1690. As an organization, the bank is older than our country. The brand […]

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Capital One 360 Savings Account Review

by Luke Landes
Capital One 360 Logo

Capital One’s decision to acquire ING Direct was a great strategic move, but the deal had a few problems. Because ING Direct’s parent company, as part of a European bail-out agreement, was required to sell ING Direct in the United States and in other global locations, and to cease using the ING Direct name, Capital […]

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What Happens If Your Bank Account Is Hacked?

by Luke Landes
Robbery

McAfee Labs, a company that deals with internet security from malware and hackers, has announced that a ring of criminals intend to steal money from customers with accounts at major American banks. The operation even has a codename, “Project Blitzkreig,” and is rumored to go into effect this coming spring. The fact that this plan […]

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Citigroup Laying Off 11,000 Employees

by Luke Landes
citi-building

As part of a measure to cut ongoing expenses for the benefit of major shareholders, Citigroup has announced a massive reduction of employment, affecting over four percent of the company’s workforce across the world. The new CEO, Michael Corbat, has determined the best course of action to increase the value of the company for investors […]

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Bank of America Settlement Postcard Checks

by Luke Landes

Bank of America’s journey with its overdraft fee class-action lawsuit is coming to an end. Earlier this month, the bank began processing its “refunds” to customers who were affected by a debit processing priority policy that greatly benefited the bank at the expense of its customers. In short, a customer with $500 in the bank […]

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ING Direct Becoming Capital One 360

by Luke Landes

Earlier this year, Capital One’s acquisition of ING Direct was approved and finalized. Consumerism Commentary readers responded, for the most part, by stating they plan on closing their ING Direct accounts in protest. I preferred to wait and see. The conflict and attitude arises from ING Direct’s history of being consumer friendly and on the […]

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Are Consumers Really Concerned About Savings?

by Luke Landes
Savings piggy bank

A survey released by Chase today concluded that 74 percent of Americans are concerned about having enough money in savings, but only 34 percent have increased their savings since the economic downturn. There’s more to the survey, but this fact alone raises more than enough questions to consider for an entire day. What does it […]

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Banks Raise Interest Rates, Savers Give Up Hope

by Luke Landes
Savings

This week, several banks raised interest rates for diligent savers taking advantage of so-called high-yield savings accounts. American Express Bank, a cousin of a credit card company you’ve probably heard of that reorganized as a bank holding company to better position itself for government protection and balance sheet building, raised its interest rate. Ally Bank, […]

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Simple Debit Card and Mint.com Debit Card: What’s the Fuss?

by Luke Landes
Piggy bank

I suppose I don’t understand Silicon Valley hype. I do, however, understand frustrations with the traditional banking system, and one techie start-up and one former start-up engulfed by one of the largest companies in personal finance management are taking the opportunity to see if they can replace some aspects of the financial industry. SmartyPig started […]

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