banks

Where’s the Real Financial Reform?

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The new credit card rules will make it difficult for banks and credit card processors to be tricksters, which is my word for their erratic and arbitrary fees and penalties. But despite the hostile opinions reported in the popular media, banks continue to have their way in financial matters. Take the student loan program, where […]

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Ask the Readers: How Many Bank Accounts Do You Have?

As part of the Automatic Finances system, it’s necessary to have a number of different bank/investing accounts for your money. In order to better save for goals, every account you have needs a name: from your main checking account to your short-term savings to your long-term investment and retirement accounts. Sometimes, however, it’s easy to […]

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Is it Time to Regulate Hedge Funds?

Banks are essential (but troublesome) institutions that keep checking accounts for depositors, but only hold a fraction of deposit liabilities in reserve to pay for checks. Normally, 15 cents on the dollar is adequate reserves for banks because those writing checks will about equal to those making deposits. To ensure banks have enough reserves to […]

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Why Nationalizing America’s Banks is a Loser

In the current financial crisis, there continues to be people in banking and business calling for nationalizing banks. One recent example is an article in the Atlantic Magazine titled “The Quiet Coup.” The author, who is from the International Monetary Fund and has experience with international financial crises, writes that nationalization would not mean permanent […]

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Will Banks Lead Us Out of the Recession?

The federal government has been bailing out the nation’s banks since last summer, handing out billions in emergency reserves to as many as 500 banks, always with a press release telling the public there must be bailouts or the banks and economy will collapse. According to a recent article in The Washington Post (“Bank Profits […]

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3 Bank Fees You Should Never Have to Pay

Banks love to charge you fees for almost anything they can. If there’s an opportunity to nickel and dime you, be aware: they’ll try it. But you don’t need to pay them. There are easy ways to avoid some of the fees that banks love to charge. Overdraft Fees Overdraft fees have become a hugh […]

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