They called it the “$39 cup of coffee.” At many banks, customers were automatically — often unwittingly — enrolled in overdraft programs that would permit debit purchases to go through even if it would overdraw their account, to the tune of up to $35 a pop. But a year and a half after new Federal Reserve rules kicked in to protect …
debit cards
5 Banking New Year’s Resolutions
This year was a tumultuous one for banking: Occupy Wall Street protests around the country focused Americans’ anger against the financial industry, while widespread outrage over banks’ attempts to charge fees for debit card use …
4 Ways to Start Your Kids with Credit
Most parents with heavy credit card debt want their kids to avoid the same mistake. But they are not sure how to coach them and, according to a new survey, would love for credit card management to be a required class in high school.
Retailers Want a Rematch in Swipe-Fee Battle: Will Consumers Lose?
The financial industry was stunned last summer when the Federal Reserve handed down a rule that effectively halved the amount banks could charge stores every time one of their customers swiped a debit card at a checkout terminal. …
What We Learned from the Black Friday-Cyber Monday Shopping Extravaganza
Shoppers have dropped tens of billions of dollars in stores and online over the last five days. What does such an impressive outpouring tell us about today’s consumer mentality, and the state of the economy as a whole?
Crooks Prey on Unsuspecting Credit Card Customers
Claims of lost or stolen credit cards go up by nearly 20% during the holiday season, according to PNC Bank. The reasons are twofold: We tend to use our cards more during this time of year, and thieves are smart enough to know that people tend to be rushed and distracted during this time of year. But some criminals don’t wait until the …
Get Ready for Bank-Fee Whack-a-Mole
Bank of America and Chase have abandoned controversial fees that were under consideration. But now banks are quietly calculating which other fees can take their place
Salvation Army Bell Ringers Now Take Credit Cards
While you’ll still hear the Salvation Army’s jingling bells this year, you may hear less change jangling into its red collection buckets.
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 …
Still Reason to Drop Big Banks, Even After They Drop Debit Card Fees
Weeks after stirring up consumer outrage with a proposed $5 monthly fee for debit card usage, Bank of America is now following its big bank colleagues by abandoning plans for the fee. Throughout the debit card fee saga, smaller …
The Big Banks That Aren’t Adding Debit Card Fees*
*What’s the asterisk for? Well, while several big banks say they won’t start charging monthly fees for debit cards a la Bank of America, in most cases they are adding other fees or changing account requirements to increase …
Redbox Raises DVD Rental Price, But Doesn’t Go ‘Full Netflix’
The DVD rental kiosk service Redbox has been enormously successful at a time when much of the economy has struggled. The value and simplicity of Redbox’s product are prime reasons why business has been so good: a flat $1 for each …
