Personal finance
GE Capital Purchasing MetLife Bank

Washington DC Might Divest from Bank of America, Wells Fargo

Miles By Discover Offers Relief to Noncommittal Travelers

Collection Agencies Resurrecting Old Debts Through Credit Card Offers

Treasury Doubles Purchase Limits on Electronic Savings Bonds

Cordray’s First Move as CFPB Head: Regulate Nonbanks

Weekly Wrap: Bank of America’s Worst Week Ever?

Dear U.S. Banks, Your Business Model Stinks

Shadow Banking Due for Some Time in the Spotlight

Weekly Wrap: Banking Slowly Dissolves?

Under the Roofs of Coffee Shops You’ll Find Your Online Bank

Brokerage Checking Still a Competitive Choice

Beware the Mirthful FOMC Meeting

Did ING Direct Customers Overreact to the Capital One Purchase?

No Balance Transfer Fee Offers Reappear But Hard to Exploit

Russell Simmons’ RushCard Lowers Fees, Is Still Bad

The Reason Why Freddie Mac Doesn’t Want to You to Refinance

New Bank Perks Cater to Tech-Savvy Customers

St. Louis Fed President: Raise Interest Rates

Whitney Warns: Banks to Banish Middle Class

Dime Savings Cites Regulations in Switch to State Charter

FDIC to Banks: Start Lending Again!

Weekly Wrap: Grey Days and a Sideshow

Weekly Wrap: Banking’s Spring Is Still Far, Far Away

American Express and Gen Y: BFF?

Treasury Doubles Purchase Limits on Electronic Savings Bonds
As financial institutions will no longer sell paper savings bonds, the Treasury has upped the purchase limit of electronic Series EE and I savings bonds so that investors retain their savings potential.

Effective Wednesday, January 4, the annual purchase limit of each series of savings bonds has been doubled from $5,000 to $10,000 when they are purchased through

The increase comes soon after the Treasury discontinued the sales of paper savings bonds by financial institutions starting in 2012. Previously, investors could buy up to $5,000 in paper savings bonds and up to $5,000 in electronic bonds of each series per year.

When the Treasury made the announcement, it didn’t mention whether the purchase limits would be raised.

Many investors were left in the dark on the matter since they’ve become reliant on Series I savings bonds to curtail the unattractive deposit rates for online savings accounts and CDs. Without the option of picking up paper savings bonds, investors dreaded the thought of only being able to invest a maximum of $5,000 per year in Series I bonds – leaving any remaining discretionary cash to go to savings accounts and CDs that doled out sub-par returns.

For these investors, this is good news.

Furthermore, American taxpayers may purchase up to $5,000 in Series I paper savings bonds with their tax refunds – that means there is a potential of buying an annual total of $15,000 in Series I savings bonds.

At the moment, Series I savings bonds offer a 3.06% composite rate for the next six months. Even if the composite rate is 0% for the subsequent six months, investors earn an effective 1.53% APY if the savings bonds are redeemed after one year.

The current leading 12-month CDs are available from Doral Bank Direct (1.15% APY) and CIT Bank (1.13% APY).

Äė˙ ļå÷ąņč

Weekly Wrap: Astrology is Bunk

Refinancing Your Mortgage Lines the Pockets of the Biggest Banks

Experian Unveils New Credit Score for the Underbanked

New Upromise Credit Card Gives 10% Cash Back at Major Online Retailers

The Best Experiences Your Credit Card Can Buy This Summer

Citi Offers New Way to Spend Rewards

Fed Study: CD Rates Are Less Attractive

Wells Fargo Raised Checking-Account Fee, Slashed Bill-Pay Fee

Weekly Wrap: Get Bullied, Get Rich

Taibbi: No Difference Between Banks and the Mafia

Why You Should Probably Raise Your Credit Limit, Especially When You Don’t Want the Money

Accounts Push Relationship Banking

Weekly Wrap: LIBOR Aside, You’re Still in Control

Fed Report Shows Mobile Banking Empowers the Underbanked

Top Gas Credit Cards to ‘Refill’ Your Wallet

Prepaid Cards for Payroll Purposes: Fair to Workers?

Weekly Wrap: Mobile Banking’s Onward March

Banks Close Revenue Gap from Overdraft Fee Losses

Banks Lack Social Media Efforts… Oh Really?

SpringCoin: Out to Automate Credit Counseling

Could Student Loan Forgiveness Help the Economy?

Chase United MileagePlus Club Card Takes Flight

Caviar and Champagne With Your Checking Account?

Weekly Wrap: Cash Rules Everything Around You? Not For Long

SmarterBank’s Checking Account Helps Pay Off Student Loans

Chinese Furious Over Banking Fees

Banks Should Use Prepaid Cards to Hook ‘Em While They’re Young

Prepaid Travel Debit Card Provider Eyes U.S.

Sallie Mae Credit Card Helps Pay Back Student Loans

Post-CARD Act, Banks Shift to Prepaid on Campus

Weekly Wrap: Things Are Not as They Seem

Gen Y Eyes Retirement with Rose Tinted Glasses

Low Interest Rates: A Ticking Time Bomb?

Are Discover Partner Gift Cards Worth the Rewards Points?

Kony Solutions’ Branding Problem: Bank Software Firm Has Killer’s Name

Weekly Wrap: Fancy Gadgetry, No Money

Weekly Wrap: Millenials’ Big Day at the Races

UFB Direct Adds Money Market Account With 1.15% APY