A payday loan by any other name is still a raw deal for consumers. That’s the message watchdog groups have in response to the growing number of short-term, high-cost loans being offered by banks and even credit unions. Since …
banking
Hey, They Were Listening: Some Banks Reinstate Free Checking
Consumers love to gripe about the scarcity of free checking and ever-increasing bank fees. But something funny happened in the second half of 2011 that belies the narrative of being nickel-and-dimed by the big banks: The …
Citibank Sued For Giving Frequent Flyer Miles That Count as Taxable Income
Citibank customers who earned frequent flyer miles for opening accounts were caught by surprise when the bank labeled the bonus as taxable income. Faced with the prospect of hundreds of dollars in taxes for what they thought were …
Some Citi App Users Double-Charged for Bill Payment
Customers who used Citibank’s mobile app for the iPad tablet probably assumed they were on the cutting edge of technology. Here’s what they weren’t expecting: a technical glitch that charged some of them twice when they paid bills.
Chase Makes Checking Account Fees Easy to Understand
Nothing seems to make consumers angrier than getting charged a fee by their bank when they weren’t expecting it. Some people even leave banks altogether just to get away from the onslaught of fees that are disclosed only in …
Teen Slapped With Hundreds in Bank Fees
Chicagoland teenager Daniel Ganziano thought he was doing the right thing when he opened an account last year with TCF Bank near his Illinois home to learn how to handle money responsibly. Instead, Ganziano learned that bank fees can very quickly spiral out of control — in his case, to more than $229 in less than two weeks.
Occupy San Francisco Starts Its Own Credit Union
Occupy protesters as financiers? It’s strange but true: Some Occupy San Francisco members announced plans to create the People’s Reserve Credit Union. Are the occupiers ready to be bankers?
Fighting Fees: 3 Ways to Negotiate With Your (Big) Bank
Bank fees are an annoyance, but is there an alternative besides either paying up or pulling up stakes and leaving? Maybe. If you want to keep your bank for other reasons — say, convenience — but the fees are pushing you out the …
How Much Basic Checking at a Big Bank Really Costs
There’s been a lot of media coverage lately about Americans switching from big banks to community banks, credit unions and online banks. That may be a good move for some people, but we’ll come right out and say it: Some consumers …
Would You Bank at Walmart?
Americans fed up with big bank fees are closing their accounts and marching over to … Walmart? It’s true; the mega-retailer has been steadily growing its services for the unbanked, such as cashing checks and selling reloadable …
‘Gotcha’ Fees Force Customers to Quit Banks
Hidden bank fees are pushing the working poor out of mainstream banking and into riskier, more expensive alternatives to managing their personal finances. A new study released by the Pew Charitable Trusts provides a stark …
Hints of the Future In Today’s Topsy-Turvy Stock Market
The recent rally was a chance to see which shares would likely lead the next major market advance.