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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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Jun 20

Simple Speeds Up Fund Transfers

One of the prominent complaints from Simple customers, based on their reviews, is the long transfer time when moving money to external accounts (accounts at other banks). To address these concerns, Simple announced this week that it is speeding up fund transfers. Outgoing transfers will complete with in 1 business day while incoming transfers will

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Jun 16

Fifth Third Bank Launches ‘Now Balance’ Feature on Mobile Apps

Fifth Third Bank has introduced a new feature for its mobile banking apps on iPhone and Android to allow customers to check their accounts balances without logging in. “The number one reason customer use our mobile app is to check their balances and we’re pleased to help make this inquiry as quick and convenient as

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Jun 13

Capital One Pilots New Alerts Service Called ‘Second Look’

Capital One is piloting a new alerts service that will catch unnoticed and possible unwanted charges on customer credit card accounts. Called “Second Look,” the service will flag unusual activity, look for auto-renewal charges and identify duplicate charges. “When we see certain activity, like potential duplicate charges, or where we see that some memberships have

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Jun 06

American Express Launches Money Management Tools for Serve, Bluebird Customers

American Express is adding personal financial management tools for customers who have the Serve prepaid card and Bluebird account. The tools will help customers track spending, create budgets, set limits and alerts and establish financial goals. “With these new tools, we’re making it simple for our customers to know where their money is being spent,

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Best Bank Deals: Last Week of May 2014
May 29

Best Bank Deals: Last Week of May 2014

Summer is quickly approaching — prepare yourself financially with the checking account that fits your lifestyle. It can save you from unnecessary fees and hassle — and earn you some extra cash when you sign up. Find the best deal on checking accounts by comparing the wide range of rewards and cash bonuses offered. Here

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May 28

Bank of America Changes Name of Its Basic Checking Account

Bank of America changed the name of its basic checking account from MyAccess Checking to Bank of America Core Checking, with no other apparent changes to the account’s features and terms. The account has a $12 monthly service fee, which can be waived with a direct deposit of at least $250 or an average daily

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