Research Shows Closed-Loop Prepaid Program Managers Drive Volume and Program Profitability Prepaid card program managers of Mercator have made distribution their top priority. Mercator Advisory Group’s Consumer Prepaid Distribution Strategies examines the methods available to prepaid card program managers as they seek out new outlets and markets The report focuses on how closed-loop gift card [...]
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What Price Protection? – Debit Card Fees
After conditioning consumers to use their debit cards for the past few years, some banks have a nasty surprise in store for us all. Some banks are waiting to see the fallout, but others have already jumped in. You may not know it, but your bank may be charging you a monthly fee for using [...]
Citybank has a new App For You
By Tara Yap Online banking with Citibank is now accessible in your own iPad. The recent launching of Citibank for iPad has raised the benchmark for online banking with fast, reliable, and secured way of tracking and analyzing your finances. With Citibank for iPad, gone are the days of the old-fashioned style of ledger banking. [...]
Illinois Bank of Shorewood Shuts Down
On Friday, the Bank of Shorewood, based in Shorewood, IL, was shut down by the Illinois Department of Financial and Professional Regulation. As is normal, the FDIC was named Receiver. The FDIC issued a press release outlining the closure and agreements. The Bank of Shorewood operated one location as Bank of Elwood and that was [...]
Illinois Institutions Share $2.2million Settlement After JP Morgan Chase Admits Bid-Rigging
MADIGAN ANNOUNCES $92 MILLION SETTLEMENT WITH JPMORGAN CHASE OVER BID-RIGGING SCHEME Bank to Pay Millions to Illinois Municipalities, Schools and Nonprofits for Illegal Practices Attorney General Lisa Madigan today announced a $92 million multistate settlement with JPMorgan Chase & Co. over a scheme to rig bids and engage in anticompetitive practices that defrauded local municipalities, [...]
Get More With Discover More Card
The Discover More Card is a balance transferrer’s dream. If you have carry a balance on your existing cards, now may be the time to look at this Long Duration Balance Transfer card. The 0% APR on balance transfers lasts for 18 month, with variable rates after that only 12% to 21%, depending on your [...]
Access Your Credit Score Through Online Services
If you are an M&T account holder, you can access your credit score from Equifax, one of the three major credit bureaus, for only US$2.99 per month. The score you are going to get is a FICO score. A FICO score is the Equifax score a lender would see if you applied for credit. It [...]
Q1 Credit Card Delinquency Rate Decrease
TransUnion’s quarterly analysis of trends in the credit card industry shows that the national credit card delinquency rate decreased to 0.74 percent in the first quarter of 2011. Delinquency rate is the ratio of bankcard borrowers 90 days or more delinquent on one or more of their bank-issued credit cards. This delinquency rate is down [...]
Illinois Foreclosure Activity Rose In May
Illinois banks didn’t fare well in a report by RealtyTrac the online marketplace for foreclosure properties. Their U.S. Foreclosure Market Report for May 2011, showed foreclosure filings falling overall, but rising dramatically in Illinois and a few other states. Scheduled auctions increased 6 percent on a month-over-month basis in judicial foreclosure states, with Illinois posting [...]
