It's not wrong for banks to make money from overdraft fees, and overdraft protection can be helpful in certain situations. However, the use of this protection is way too prevalent, and that's something consumers have the power to change without any help from banks or regulators.
By today's standards my political views are considered liberal, perhaps even far to the left of center. Yet just a few decades ago I would have been (and was) labeled a moderate or even slightly right of center for holding the same positions I hold today.
In the past, government policies overemphasized homeownership. Instead, Americans should have a variety of affordable and attractive rental and purchase options, in line with their needs and resources.
Certainly, recent gains are a sign of hope, but with every bull market comes a fair amount of hype as well. Before you plunge head-first into volatile markets, consider the following reasons to be a little skeptical about these recent market rallies.
American branch banking needs a renewed and relevant future. Traditional financial literacy needs a renewed and relevant future. Think of an innovative solution which re-imagines each. Imagine returning the word 'community' back into the storyline of American banking.
Long before the Digital Age, Ireland, during the decade between 1966 and 1976, experienced three separate bank strikes that caused the banks to completely shut down for a total of 12 months, virtually bringing the country to a standstill.
A normal person would simply drive up to the machine, insert their card, enter in their PIN, complete their transaction, grab a receipt and move on with their life. In case you are new here, I'm not entirely normal.
Breaking up the biggest banks because they are perceived as "too big to fail" is unrealistic. What is needed, however, are improvements in the transparency and the accountability of governance in these institutions.
America is only four months into the second term of Barack Obama and already one of its most promising industries is suffering from a pair of grossly obtuse government agencies who have banded together to aid a foreign state-owned company at the expense of domestic firms.
Kids have pristine records with no real credit score of their own. Parents generally don't think to monitor the status of their kids' identity. This is the perfect combination for children to be the easy targets of identity theft.
As European bank depositors, bank creditors and bank stockholders look back nervously at what happened recently in Cyprus, there is increasing speculation about what might happen to Slovenia and even some other European countries in relation to bank restructuring.
Trust can be restored to banking, when transparency exists to show that the bank and its customers, employees and stakeholders quantifiably improve safety for all, and function holistically as exchanges for capital in all its forms.