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BB&T to Acquire The Bank of Kentucky for $363 Million
Sep 09

BB&T to Acquire The Bank of Kentucky for $363 Million

BB&T, the nation’s 10th largest bank by deposits, has agreed to acquire The Bank of Kentucky, based in Crestview Hill, Ky. with $1.6 billion in deposits. BB&T agreed to pay $360 million in cash and stock in the deal. “We are extremely excited to welcome our new clients and associates in these vibrant markets to

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Chase Launches Redesigned Android App
Sep 04

Chase Launches Redesigned Android App

Chase has updated its Android mobile banking application with a new look and user interface that aims to personalize and simplify the mobile banking experience. “We’re continually improving the Chase Mobile App as more and more customers connect with us through their smart phones and tablets,” said Gaven Michael, head of Digital for Consumer and

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Coin Customers Face Longer Wait Times Following Product Delay

Coin Customers Face Longer Wait Times Following Product Delay

Early adapters are dying to get their hands on Coin, but they’ll have to wait. Coin is an electronic device which looks like a credit card, stores your credit card and debit card information so you don’t have to carry them around with you. It was originally set to be released in the summer 2014,

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American Express Settles on Interest-Rate Hike Lawsuit
Aug 26

American Express Settles on Interest-Rate Hike Lawsuit

Last week, American Express entered a settlement agreement in a class action lawsuit that alleged that the card issuer increased card interest rates when cardmembers thought that their accounts had fixed rates — claiming a violation of the Truth in Lending Act. American Express agreed to pay $4 million to $6 million to settle the

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Simple Relaunches Mobile Banking Apps With New Design
Aug 19

Simple Relaunches Mobile Banking Apps With New Design

Today, Simple launched new versions of its mobile banking applications for iPhone and Android with a new look and new features. “With this release, we focused on perfecting the basics: clean design and excellent user experience,” Simple said in a blog post. The mobile apps now have an all-new design and a more intuitive user

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TD Bank Introduces Mobile Account Opening
Aug 07

TD Bank Introduces Mobile Account Opening

Forget the hassle of opening up a bank account by walking into a TD Bank branch — you can now do it conveniently on your smartphone. TD Bank recently announced the launch of their Mobile Account Opening, which will revolutionize the way people open up a personal banking account. Customers are now able to open

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Jul 21

Eastside Commercial Bank Becomes 13th Bank Failure of 2014

Eastside Commercial Bank, based in Conyers, Ga. with $169 million in assets and $161.6 million in deposits, was closed by federal regulators on Friday. Community & Southern Bank, based in Atlanta, Ga. agreed to assume all the deposits of the failed bank. The two branches of the failed bank have reopened as Community & Southern

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Ally Bank Launches Its First iPad App
Jul 16

Ally Bank Launches Its First iPad App

Today, Ally Bank launched the first version of its iPad application. “Our iPad app is designed to deliver an exceptional experience for consumers, who increasingly are shifting their device preferences toward tablets,” said Diane Morais, deposits and line of business integration executive at Ally Bank, in a news release. The iPad has all the features

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Jul 01

Single-Branch Oklahoma Bank Marks 12th Bank Failure of 2014

The Freedom State Bank, based in Freedom, Okla. with $22.8 million in assets and $20.9 million in deposits, was closed by federal regulators on Friday. The single branch of Freedom State Bank has reopened as a branch of Alva State Bank & Trust, which agreed to assume all the deposits of the failed bank. Customers

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Jun 23

Two Banks Fail Over the Weekend

On Friday, two banks were closed by federal regulators. Coincidentally, both banks had the same names. Valley Bank, based in Moline, Ill. with $456 million in assets and $360 million in deposits, was closed and all deposits were assumed by Great Southern Bank, based in Reeds Spring, Mo. The 13 branches of Valley Bank have

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