A lot of people got really bent out of shape when Bank of America announced last fall that it would start charging a $5 monthly debit card fee. Online petitions were launched as the blogosphere and social media sites like Twitter overflowed with messages denouncing banks in general and Bank of America in particular.
Most Americans began 2011 having never heard the phrase “debit interchange fee.” But by year’s end, a few more of us were aware that it refers to the money paid by retail merchants to card-issuing banks when we use our debit cards to make purchases. These fees turned out to be an important battleground in the broader bank fee wars that …
Walmart has been steadily growing the scope of its financial services, offering unbanked Americans a place to do things like cash checks and pay bills cheaply — located in stores where customers will hopefully turn around and …
Several big banks have reported their earnings over the past week, and the results aren’t pretty: JP Morgan Chase & Co. had a 23% drop in profits, Citigroup’s fell 11% and regional bank PNC Financial Services Group suffered a 40% …
Zappos.com has taken pains to assure customers that their credit card information is safe after a data breach, which was reported over the weekend, compromised information of up to 24 million customers, including names, mailing …
Wendy’s was on track to boot Burger King off its perch as the No. 2 hamburger chain in the country, so the King is fighting back by stealing a page from pizza shops’ playbook: In four test markets, the brand is offering home …
Americans spent an unexpected $52 billion over Black Friday weekend, and now it’s becoming clear how we managed to afford this shopping spree: we charged it. New Federal Reserve data shows that consumer borrowing surged by $20.4 …
Talk about sweet sorrow: Hostess Brands, manufacturer of lunchbox staples like Twinkies, Hohos and Ding Dongs, is planning to file for bankruptcy this week, the Wall Street Journal reported Tuesday. The company, which also makes …
A person with blemished credit and a history of defaulted debts will have trouble getting a credit card, so an unsolicited credit card application can seem like a lifeline. But some of these cards come with some very sneaky fine …
Oprah pal Suze Orman never had much in common with reality TV‘s Kardashian sisters — until now. The personal finance personality debuted a prepaid debit card, the Approved Card. Prepaid cards are notorious for high fees — and …
Are you stashing the credit card bills under the junk mail because you’re afraid to see how much you spent over the holidays? Surveys from USA Today and Consumer Reports reveal that we were on track to charge roughly 7% more on …
Now that the Consumer Financial Protection Bureau has a director (albeit one whose appointment could be challenged in court), it has quite the to-do list. At the top, according to newly installed bureau head Richard Cordray, is …
