Local bank, waiting regulatory approval for a sale, misses its TARP payment: Crescent State Bank (CRFN) missed its scheduled TARP payment that was due this week. Crescent says that it wants to preserve its capital. This is an interest moment for Crescent. The North Carolina Bank reached an agreement with Piedmont Community Bank Investors to sell a majority stake
in Crescent Financial Corp., their parent, for $75 million. Will the Fed mind? Crescent received $24.9 million from TARP in 2008. They were due to make a $331,000 dividend payment on March 17th.
Video tellers at Bank of America: Bank of America says that it will test out a new system to put video monitors in ATMs. The monitors will link a consumer with a remote teller that could be capable of answering questions. Better ATMs are a great thing. Still, will this cue the bank to withdraw from having Real Live People in their branch stores? CEO Moynihan says that the bank intends to change the design of their branches.
JP Morgan Chase Increases ATM fees: JP Morgan Chase said that it will test a new $5 fee for non-Chase customers using their ATMs. The test will take place in Chicago. PNC Bank says that it will charge $2 for their customers to use an out-of-network ATM. The fee will be waived for people with high monthly fee checking accounts. Of course, that ATM fee will be coupled with another fee from the owner of the ATM.
A grocery store in my neighborhood says that it will provide free check cashing to any customer that spends at least $10 in their store.