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Overdraft Fees

Bank Of America Wants People To Pay $5 For A Currently Free Service

The Huffington Post | Emily Cohn | Posted 03.08.2014 | Business

Bank of America is offering you the chance to pay a fee for a service you may not know you already have. The bank on Thursday launched a new kind o...

Report: BofA Weighing Checking Account That Curbs Overdrafts

Reuters | Posted 01.23.2014 | Business

Oct 17 (Reuters) - Bank of America is considering a plan to introduce a checking account that curbs overdraft practices, the Wall Street Journal sai...

Protect Student Consumers on Campus

Ethan Senack | Posted 01.23.2014 | College
Ethan Senack

In recent years, we've seen a major spike in deals that allow financial service providers to disburse federal financial aid to students through products like debit cards. These deals, which have raised serious concerns from consumer advocates, were shown to have significant risks for students.

Did You Know Overdraft Fees Are on the Rise?

MyBankTracker | Posted 09.24.2013 | Business
MyBankTracker

Banks continue to raise the fee that is charged when customers spend more than they have in their accounts. Since the end of 2012, the average fee for a $50 overdraft has increased from $33.70 to $34.90 at the 10 largest U.S. banks.

Protection Racket: A Wake-Up Call on Overdraft Fees

Richard Barrington | Posted 08.20.2013 | Business
Richard Barrington

It's not wrong for banks to make money from overdraft fees, and overdraft protection can be helpful in certain situations. However, the use of this protection is way too prevalent, and that's something consumers have the power to change without any help from banks or regulators.

Catherine New

Why There's A Waiting List To Get This Checking Account

HuffingtonPost.com | Catherine New | Posted 05.24.2013 | Small Business

At many big banks, customers say they want out. But with Simple, a new kind of free online checking account, there is a two-week waiting list to get i...

Not So Little 'So What'

Ellen Schloemer | Posted 06.08.2013 | Business
Ellen Schloemer

In my experience, there are some financial practices that reasonable people agree are just plain wrong.

Eleazar David Melendez

Overdraft Fees Continue To Make Banks Richer, Poor Poorer

HuffingtonPost.com | Eleazar David Melendez | Posted 03.29.2013 | Business

Financially struggling Americans paid an increasing amount of money in overdraft fees last year, in spite of a 2010 rule designed to prevent abusive o...

Deceptive Overdraft Fees: There Ought to Be a Law!

Rep. Carolyn Maloney | Posted 03.27.2013 | Politics
Rep. Carolyn Maloney

If you ask around, it's pretty easy to find someone who has a bank account overdraft horror story to tell. The Overdraft Protection Act of 2013, which I introduced last week with 42 cosponsors, would rein in abusive banking practices that hit the unwary hard.

JPMorgan Takes Payday Lenders To Task

AP | CHRISTINA REXRODE | Posted 03.20.2013 | Business

NEW YORK -- JPMorgan Chase said Wednesday that it will take steps to protect its customers from fees and other charges that payday lenders may slap on...

Bank of America's Backtrack on Fees Is Proof Debit Reform Is Working

Douglas Kantor | Posted 02.26.2013 | Business
Douglas Kantor

Bank of America's recent decision to back down on new checking fees next year is further proof debit card swipe fee reform has resulted in greater marketplace competition benefitting consumers.

Bank Won't Pay $203 Million To Customers

Reuters | Posted 02.26.2013 | Business

By Dan Levine SAN FRANCISCO, Dec 26 (Reuters) - A U.S. appeals court vacated an injunction and a $203 million restitut...

Is This The World's Most Expensive Card?

The Huffington Post | Posted 11.01.2012 | Money

Losing your credit card is a huge hassle. But losing a card that costs $100,000 is a whole different story. Sberbank-Kazakhstan, a Kazakhstani bank...

Household Debt Hits New Low

The Huffington Post | Catherine New | Posted 10.15.2012 | Money

American households have gotten their financial footing back when it comes to debt and that could help the economy recover faster, economists say. ...

The Most Costly Banking Mistake You Can Make

Credit.com | Posted 11.27.2012 | Money
Credit.com

With consumers expressing confusion over their banks' fee structures and banks ordering transactions in such a way as to maximize their collection of such fees, people continue to get hit with the mother of all fees.

Catherine New

Sneaky Overdraft Fees Nip Holders Of Prepaid Cards

HuffingtonPost.com | Catherine New | Posted 09.06.2012 | Money

NEW YORK -- Prepaid cards have been touted as way to not overspend. Yet some prepaid cards are designed to let you do exactly that -- spend more money...

Big Bank Pays For Charging Excessive Fees

Reuters | Posted 08.26.2012 | Money

* Lenders accused of reordering transactions to boost fees * PNC joins Bank of America, JPMorgan, others to settle * 13 ...

Want To Sue Your Bank? They May Ask You To Pay Their Legal Fees

The Huffington Post | Alexander Eichler | Posted 06.21.2012 | Business

At some banks, there's a nasty little piece of language buried in those terms-and-conditions agreements you have to sign. It says that if there are an...

Catherine New

Americans Love Convenience More Than They Hate Bank Fees

HuffingtonPost.com | Catherine New | Posted 06.21.2012 | Money

Have you ever paid slightly more in ATM fees just because you were too lazy to cross the street to visit a bank with cheaper rates? You're not alone. ...

Big Bank Drops Overdraft Fees

The Huffington Post | Emily Cohn | Posted 06.21.2012 | Money

Although it seems like every week banks are ratcheting up fees charged to customers with low account balances, the largest U.S. bank by assets is chan...

Catherine New

Bank To Charge Most Expensive Overdraft Fee Yet

HuffingtonPost.com | Catherine New | Posted 06.08.2012 | Money

Fifth Third will have some of the most expensive overdraft fees of any big bank starting later this month. The Cincinnati-based bank has confirmed...

Catherine New

SunTrust Customers Can Expect Higher Fees

HuffingtonPost.com | Catherine New | Posted 06.06.2012 | Money

Starting this summer, some of SunTrust's least wealthy customers will have to pay higher fees on everything from ATM withdrawals to checking accounts,...

The Latest Bank To Raise Fees

The Huffington Post | Catherine New | Posted 05.17.2012 | Money

Another bank is raising fees. U.S. Bank is bumping up overdraft fees for all its accounts beginning June 29, the Minneapolis-based bank confirmed o...

Bank Accused Of Profiting Off Customer Math Errors

The Huffington Post | Harry Bradford | Posted 05.09.2012 | Business

Amidst debate over how much banks value clients, one among them stands accused of purposefully profiting off the math errors of its own customers. ...

Bank Charges Customer $300 In Overdraft Fees

The Huffington Post | Bonnie Kavoussi | Posted 05.02.2012 | Money

Even if you signed up to receive overdraft notifications from your bank, you may still be surprised by unwelcome overdraft fees piling up against your...