In today’s nonstop-discount marketplace, virtually every shopper has purchased an item at what seems to be a fair price — only to kick oneself a week later when it pops up in a much cheaper sale.
Citi
Vikram Pandit Falls on His Sword. But Who Can Save Citigroup?
When Vikram Pandit took over Citigroup in 2007, he was seen as an unlikely choice. In an industry dominated by white, glad-handing alpha males, Pandit is a bookish Indian immigrant known for his financial acumen but not his …
Are ‘Safe Accounts’ the Answer to Our Consumer Banking Problems?
So-called Safe Accounts offer extremely low fees and no overdraft penalties. Banks are still experimenting but the early results have been encouraging and a product geared at the unbanked may just right for many others too.
The Fee That Credit Card Issuers Are Leaving Behind
Banks, the thinking goes, have never met a fee they didn’t like. Yet one credit card charge that has been standard for years—the “foreign transaction” or “foreign currency” fee, which tacks on an extra 3% or so to every hotel …
America Loves to Watch Its Too-Big-To-Fail CEOs Squirm
If there’s one thing this cantankerous nation can seem to agree on these days, it’s our hatred of too-big-to-fail banks and their well-compensated, if less-than-fearless, leaders. Likewise, the American media is rarely …
IBM’s Watson Computer Heads to Wall Street for Post-Jeopardy Gig
One year after IBM’s Watson defeated two of the greatest champions in Jeopardy history, the supercomputer is taking a “job” on Wall Street helping banking giant Citigroup analyze data. It would be easy to chalk up Watson’s new …
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 …
Is the $25 Billion Foreclosure Settlement a Stealth Bank Bailout?
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.
Three Cheers and Three Jeers for $25 Billion Foreclosure Settlement
A key step was taken yesterday in moving the country beyond the housing crisis, a crisis that triggered the worst recession in decades and whose lingering effects continue to hinder the nation’s nascent recovery. The deal, which …
White House Announces $25 Billion Mortgage Settlement
This post was updated at 1:25pm
It’s been a long slog, but government officials and representatives from major U.S. banks have come to terms on a settlement that would put an end to federal and state investigations into …
Income Taxes On Frequent Flyer Miles?!
We’ve written before about how taxes and fees can turn a “free” flight into one that costs several hundred dollars, but there’s another way your frequent flier miles could cost you: You might have to pay federal income taxes on them.