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Overdraft Fees

Bank May Face Class-Action Suit From Customers For Overdraft Fees

The Huffington Post | Alexander Eichler | Posted 09.27.2011 | Business

In 2003, the San Francisco-based Union Bank adopted a new practice that allowed it to begin charging its customers more overdraft fees. Now, the custo...

Big Banks Are Still Sassy, but Their Branch Offices Are Running Scared

Nicholas Carroll | Posted 08.02.2011 | Business
Nicholas Carroll

As the big banks shrink in assets by their own choices, average Americans can help them shrink to a size where they're no longer Too-Big-To-Fail. Because somewhere ahead is a tipping point, where they become Small Enough To Fail.

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.

Zach Carter

Payday Loan Kingpin Praises Elizabeth Warren | Zach Carter | Posted 07.10.2011 | Business

This article has been updated WASHINGTON -- The Chairman of the nation's largest payday lending outifit is making the rounds in the nation's capita...

BofA Tests Program Asking Customers To Approve Overdrafts Via Text

AP | By CANDICE CHOI | Posted 07.09.2011 | Business

NEW YORK -- Bank of America plans to test a program that will let customers approve debit card purchases that exceed their balances by text message. ...

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...

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 Predicted, Debit Fees Are Climbing

Tim Chen | Posted 05.25.2011 | Business
Tim Chen

Banks all over the country have already started adding new fees to services that most of us have long taken for granted as free. Their first target? Debit cards.

Treasury Launches Debit Cards For Tax Refunds

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Americans without bank accounts may soon be able to carry debit cards. The Treasury Department is rolling out a new program to let people collect tax...

8 Best Banking Trends of 2010

Richard Barrington | Posted 05.25.2011 | Business
Richard Barrington

It seems the words "good news" and "banking" haven't gone in the same sentence since the start of the financial crisis. But in truth, there were many positive banking developments this year.

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.

Who Are the Gougers and Profiteers?

Lawrence W. Schonbrun | Posted 05.25.2011 | Business
Lawrence W. Schonbrun

Just last week, a federal court in California, using terms like gouging and profiteering, made national headlines by issuing a stinging indictment of ...

We Will All Have to Pay for Financial Reform

Tim Chen | Posted 05.25.2011 | Business
Tim Chen

When rallying for financial reform, we have to remember that every action has an equal and opposite reaction when you start threatening the profits of competitive industries.

The END Of Free Checking May Be Upon Us | 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.

Weekly Audit: Are Handouts For Billionaires More Important Than Feeding Children?

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger The crazy conservative assault on government spending has become one of the most irrational economic policy d...

Overdraft Protection Expires: No More Overdraft Fees Without Opting-In

Huffington Post | Adam J. Rose | Posted 05.25.2011 | Business

The era of the $35 cup of coffee has come to an end, for most. Unless a consumer chooses to opt-in for overdraft protection, their ATM and debit pu...

Too Big Not to Organize: SEIU-International Coalition Try to Unionize the Banks

Mike Elk | Posted 05.25.2011 | Business
Mike Elk

Why would SEIU, which has risen to prominence during the last 25 years in part by organizing janitors, be interested in organizing bank workers?

Weekly Audit: Why Elizabeth Warren Should Head New Consumer Financial Protection Bureau

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger With the Wall Street reform bill finally cleared through Congress, activists and intellectuals are pushin...

ABA Argues Against Financial Reform Bill Amendment Allowing States To Regulate Credit Card Interest Rates | James Kwak | Posted 05.25.2011 | Business

Right now banks are allowed to pretend that application fees, late payment fees, annual fees, and periodic fees are not part of the cost of credit. Th...

Wells Fargo Free Checking CANCELED Before New Bank Rules Take Effect

Bloomberg | Posted 05.25.2011 | Business

Wells Fargo & Co., the U.S. bank with the largest branch network, eliminated free checking accounts for new customers as firms prepare for stricter co...

A Tale of Phrenologists and Predatory Lenders

Leah Anthony Libresco | Posted 05.25.2011 | Business
Leah Anthony Libresco

The question comes up again and again for regulators and lawmakers: when is a product so harmful that it ought not be sold at all?

End of Free Checking a Financial Squeeze: How Employers Can Help

Clare J. Morgan | Posted 05.25.2011 | Business
Clare J. Morgan

The free checking accounts many Americans enjoy will soon be a thing of the past as banks scramble to find new ways to recoup overdraft charges and other fees they're no longer allowed to impose.

Arthur Delaney

The Ballad Of Francis Timothy Coleman | Arthur Delaney | Posted 05.25.2011 | Business

Francis Timothy Coleman first heard of "Privacy Assist" when a salesman called him at the end of 2009, saying he needed to verify Coleman's informatio...