Money & Savings News Blog

Recently released minutes from the November Federal Reserve meeting disclosed that the Fed is looking for ways to provide more clarity on its interest rate policies. The Fed said that additional clarity would provide reassurance to investors and business leaders.

JPMorgan Chase ranked Best in Class for Mobile Banking in Javelin's third annual mobile banking scorecard. The scorecard evaluates the abilities of financial institutions to meet the growing mobile banking needs of consumers as they move toward greater mobile account monitoring and mobile money movement.

While it's hard to gauge the full impact of Bank Transfer Day--the November 5 occasion that urged customers to move their deposits from large banks--the nation's credit unions felt a definite effect, signing up more than 40,000 new account holders, according to a trade group.

Some positive economic figures emerged in November, including a strong advance estimate of third-quarter GDP growth. But while this good news could help improve savings account interest rates, the ongoing congressional budget battle could counteract it.

In the wake of the debit-fee fiasco, banks may be gearing up to push prepaid cards to make up for lost revenue. Unlike debit cards, prepaid cards are not subject to recently imposed federal caps on merchant swipe fees, allowing banks to reap more money for purchases made with a prepaid card.