A study published by credit card comparison site CardHub.com last week shows that while the Credit CARD Act of 2009 has helped make the thicket of fine print and legalese somewhat easier to navigate, it’s still a jungle out there. The site’s 2011 Credit Card Application Study looked into the application materials that the 10 biggest …
Bank of America
Banks Waive Fees For Hurricane Irene Victims
Americans along the East Coast, especially in the Northeast, are still grappling with the aftereffects of Hurricane Irene. Many have no power and a smaller number have been displaced from their homes or are trapped by washed-out …
Buffett to Bank of America: I’ve Got Your Back
Before Warren Buffett poured $5 billion into one of the market’s worst performing stocks, he reportedly called CEO Brian Moynihan personally and said he wanted to invest in Bank of America, calling it a “strong, well-led company.”
Bank Stocks Are On the Upswing
Like the rest of the market, bank stocks have taken a beating in August, led by Bank of America, which is down 40% over the past four weeks. But investors waded back into the sector Wednesday, propelled by a surprisingly upbeat …
Could Your Credit Card Information be Hacked?
If you think the British tabloid phone-hacking scandal has nothing to do with your personal financial information, think again. A consumer advocate savvy in high-tech financial security discovered that similar tricks used by hackers to break into people’s voicemail accounts could also be exploited to gain access to confidential credit …
Customers Fight Back Against Overdraft Fee Tricks
A judge recently granted class-action status to a group of consumers who filed a lawsuit against Union Bank, claiming the San Francisco-based institution manipulated the order of transactions in order to maximize overdraft fees. Consumer advocates say that if the consumers prevail, it will send a strong message to other banks that they …
Bulldoze: The New Way to Foreclose
UPDATED (5:29 PM)
Banks have a new remedy for America’s ailing housing market: bulldozers.
There are nearly 1.7 million homes in the U.S. in some state of foreclosure. Banks already own some of these homes and will soon repossess many more. Many housing economists worry that a near constant stream of home sales by banks could keep …
J.P. Morgan Chase Tight-Lipped About Credit Card Debt Lawsuit Dismissals
Mortgage lenders are under scrutiny for their foreclosure practices and record-keeping, including abuses like so-called “robosigning” and trying to foreclose on homes without proper documentation. Bank of America agreed to pay …
Bank Branches Are Closing; People Using Nearby ATMs Don’t Notice
The typical town’s main drag seems to have a bank in every third or fourth storefront, often with branches from the same institution within a few blocks of each other. But do consumers really need banks to be as ubiquitous as …
Bank of America Mortgage Settlement: Big Banks Could Be Forced to Repay $45 Billion
Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this …
Your Credit Card Data Is Probably at Risk
Hackers are getting smarter when it comes to stealing your personal account information. The recent data breach at Citi — which turned out to affect some 80 percent more customers than initially reported and led to $2.7 million …
Mortgage Giants Wells Fargo and Bank of America Opt Out of Reverse Mortgage Business
At the height of the real estate market, I recall driving past a Bay Area billboard for an apparently conservative financial advisory firm that read something like: “Your home is not a retirement plan.” At the time, the …
