Tag Archives: community banks

Dick Durbin Is Stealing Your Free Checking!

In an amazingly unanimous vote, the Republican and Democrat state senators condemned a specific amendment from U.S. Senate Majority Whip Dick Durbin (D-Ill.) and the corresponding proposed rule from the Federal Reserve implementing a debit price control scheme that benefits Walgreens, Home Depot, and some of the nation’s biggest retailers and shifts costs to consumers in terms […]

Industry Experts Get ‘F’ in History (Stories about Free Checking Continue Repeating Misinformation)

These typical “death of free checking” stories that pop up everywhere the mega-banks have locations say free checking began in 1994 at Washington Mutual. Wrong. Free checking was not invented 20 years ago by the executives at another regional bank either (as some stories claim), or by any big bank. ACTON Marketing was the first […]

Free Checking – It’s Alive

August 15 has passed and the Reg E Amendment has impacted bank revenues less than expected. Yet, the media drumbeat of “free checking is dead” continues. Of late, publications like the Philadelphia Inquirer have stated, “No-strings free checking is now very hard to find.” In addition, the Miami Herald said, “The free account is a dinosaur.” TheNew […]