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Bank Fees

Despite Consumer Outrage, Bank Fees May Be Here To Stay

AP | By PALLAVI GOGOI | Posted 12.19.2011 | Business

NEW YORK -- Higher bank fees are here to stay. The latest third-quarter earnings reports from this week confirm that banks are struggling to make mon...

Bank of America, Adam Smith and a Fee Market System

Adam Levin | Posted 12.09.2011 | Business
Adam Levin

In keeping with the new Durbin-inspired trend of candor and brevity, Bank of America CEO Brian Moynihan justified the new fee by saying, "we have the right to make a profit." Translation: I think they need the dough.

Jordan Howard

D.C. Woman Delivers 150,000 Signatures To Bank Of America, Cancels Account

HuffingtonPost.com | Jordan Howard | Posted 12.06.2011 | DC

WASHINGTON -- After collecting well over 150,000 signatures in less than a week, District of Columbia resident Molly Katchpole, 22, followed through w...

Jordan Howard

22 Year Old Gathers 137,000 Signatures To Protest Bank Of America New Debit Fee

HuffingtonPost.com | Jordan Howard | Posted 12.06.2011 | DC

WASHINGTON -- Molly Katchpole had enough. A recent college graduate living in the nation's capital, she decided she couldn't afford Bank of America's ...

Citibank To Impose $20 Fees On Some Customers

The Huffington Post | Bonnie Kavoussi | Posted 12.03.2011 | Business

Citibank will charge some customers up to $20 per month for low account balances starting later this year, according to a report in the Los Angeles Ti...

Swipe Fees: Didn't "Swipe" Used to Mean "Steal"?

Rick Horowitz | Posted 08.09.2011 | Comedy
Rick Horowitz

Burt Bottomline knows banking. And why shouldn't he? Burt Bottomline has been in banking -- Big Banking -- for years. He's one of Big Banking's big...

BofA To Pay Hundreds Of Millions For Overcharging Customers

Posted 07.23.2011 | Business

NEW YORK (By Jonathan Stempel) - Bank of America Corp has won tentative approval of a $410 million settlement of lawsuits accusing it of charging ...

38 Billion Dollars in Overdraft Fees Is Ridiculous

Patrice Peyret | Posted 07.20.2011 | Business
Patrice Peyret

$38 Billion during a single year? That's $126 for every single of the 300 million Americans, including newborns and the millions without a bank account.

Chase Tests $5 ATM Fee

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

Bank customers could face $5 ATM fees. In Illinois, JPMorgan Chase is testing $5 fees for non-customers, in Texas, it's $4. If the trial runs make ...

Ask the Expert: How Can I Save Money on Checking Account Overdraft Fees?

Richard Barrington | Posted 05.25.2011 | Business
Richard Barrington

Q: I'm looking for a new checking account because the overdraft fees at my bank are killing me. It's a $30 fine every time I overdraft the account. Am...

New Bank Fees Hit Unsuspecting Customers

Mark Sunshine | Posted 05.25.2011 | Business
Mark Sunshine

A couple of days ago I became aware of the latest banking fee innovation; bank surcharges for "not" providing service. That's right, customers are being surcharged for not using their bank.

Fed To Defend Debit Card Fee Crackdown To Congress

Posted 05.25.2011 | Business

NEW YORK: The Federal Reserve may give U.S. banks insight into whether it will scale back its proposed crackdown on debit card processing fees, when a...

Bank Of America Pays $410 Million In Overdraft Case

AP | The Associated Press | Posted 05.25.2011 | Business

Bank of America has agreed to pay $410 million to settle a federal lawsuit alleging the bank charged excessive overdraft fees. The suit is one of s...

As Banks Raise Fees, You Have Options

New York Times | RON LIEBER | Posted 05.25.2011 | Business

So now we know what the big banks' New Year's resolution was: Keep the profits flowing from basic checking accounts. Earlier this month, Bank of Amer...

Credit Card Fees and Your Subconscious Mind

Tim Chen | Posted 05.25.2011 | Business
Tim Chen

A lot of people are drawn into 0% Intro APR and Balance Transfer Rate discounts without thinking what happens after they cease. Banks know that people screw up and are always looking for new credit users to milk fees from.

Banks Replace Old Fees With New Ones

The Huffington Post | William Alden | Posted 05.25.2011 | Business

In response to new regulations, banks are carefully guarding one of their most reliable profit streams: the fees they charge customers for basic banki...

For the Banks, the Money Is in Overdraft Fees

Jean Ann Fox | Posted 05.25.2011 | Business
Jean Ann Fox

Willie Sutton is credited with saying that he robbed banks because that's where the money is. Banks know where the money is, too: overdraft fees.

The Kardashians Launch A Prepaid Card: Check the Fine Print

Patrice Peyret | Posted 05.25.2011 | Business
Patrice Peyret

Today, the Kardashian sisters are putting name and celebrity status behind a Mastercard prepaid card. The sisters, Kim, Khloe and Kourtney, are the la...

Bank Sues Bernanke, Fed Over Limits On Fees

AP | DIRK LAMMERS | Posted 05.25.2011 | Business

SIOUX FALLS, S.D. — TCF National Bank sued Federal Reserve chairman Ben Bernanke and the Fed's board of governors on Tuesday, saying regulations...

The Credit CARD Act Is No Match for Wall Street's Ingenuity

Donna Flagg | Posted 05.25.2011 | Business
Donna Flagg

Several years back, I ran a large team building event for a company on Wall Street. The men and women vibrated with intelligence and sparkled with charisma. But something about that day has recently come back to haunt me.

The END Of Free Checking May Be Upon Us

latimes.com | Rick Rothacker | Posted 05.25.2011 | Business

The good news for bank customers this summer is that new federal rules should cut down on unexpected overdraft fees. The bad news is that banks are...

Bye Bye Big Banks ... We Want Choices

April Rudin | Posted 05.25.2011 | Business
April Rudin

Everyone should take a closer look and learn about more banking. Children should be educated from an early age to understand how saving money, lending money and commercial banks operate.

Banks Already Gearing Up To Pass Costs Of Financial Reform On To Customers

AP | STEVENSON JACOBS | Posted 05.25.2011 | Business

NEW YORK — Big banks facing big drops in revenue are looking to Main Street to make up the difference. Checking accounts, bank statements, even...

Using Education to Cope With a Complex Economy

Timothy Geithner | Posted 05.25.2011 | Politics
Timothy Geithner

Beyond financial reform, we must encourage all Americans -- especially our youth -- to cultivate adequate individual financial literacy to succeed in this increasingly complex, fast-moving economy.

Mike Konczal: What are you worth to your bank?

washingtonpost.com | Mike Konczal | Posted 05.25.2011 | Business

The Roosevelt Institute's Mike Konczal writes about trying to figure out how much a customer is worth to a commercial bank: "There's whatever you pay...