BANK TALK
Exploring the Finances of the Unbanked

Can Kicked: ex-Prepaid Issuer Palm Desert Bank Closed Down

May 10th, 2012

On April 27th, the FDIC shuttered Palm Desert National Bank and arranged through a mix of government subsidy and private investment that the bank’s operations would be assumed by Pacific Premier Bank.  This presented perhaps the closest call to date for an event that might test the ability of the FDIC to deliver on its promise to repay depositors of a failed bank.

Prepaid deposits will not be in danger this time. Moreover, the current location of those (more…)


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May 10th, 2012 11:21:48

Five More Facts about Prepaid

March 20th, 2012

More people are blocked from getting a checking account than you might expect. According to the FDIC, 19 percent of US adults are on either the Telecheck database or ChexSystems.

Prepaid can be cheaper than the alternatives. Bretton Woods released a study last month (more…)


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March 20th, 2012 10:50:46

Two Banks will Offer Refund Checks

January 19th, 2012

Two small midwestern banks will be providing tax refund transfers during the upcoming tax season. The transfers are being marketed under the name “QIK Funds.” They will be offered by Citizen’s Bank and by New Capital Bank. New Capital is a division of Marshall County State Bank.

The refund transfer is a version of the refund anticipation check (RAC). The checks are (more…)


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January 19th, 2012 11:58:16

The True Cost of Not Having a Bank Account

December 27th, 2011

Editor’s note: This is a guest post by Daniela Baker, the editor of CreditDonkey.Com. CreditDonkey is a personal finance blog.

A new survey by the Federal Deposit Insurance Corporation has found that about one in thirteen Americans does not have a checking or savings account. The survey found that over a quarter—24.6 percent—of all American households either don’t have a checking or (more…)


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December 27th, 2011 06:45:28

Breaking News: FDIC and Republic Reach Agreement

December 09th, 2011

Republic will cease to offer RALs after April 30th, 2012.

 

More to come shortly.


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December 09th, 2011 09:37:36