The Federal Reserve Bank of New York released a report on Monday that shows America is chipping away at its collective debt — but slowly. According to the Quarterly Report on Household Debt and Credit, overall consumer debt was down by $50 billion at the end of June. If that seems like a lot, it’s not; in fact, it’s a measly 0.4 percent …
ING announced that for the first time it would make paper checkbooks available to accountholders. Odd throwback move or brilliant strategy?
This week, Visa began campaigning to get retailers in the U.S. to upgrade their payment terminals — what we used to call cash registers — to devices capable of reading EMV chips, the technology behind “chip-and-pin” cards now …
Capital One’s been on quite the buying spree lately. Earlier this year it acquired online bank ING Direct, and now it’s just tossed the U.S. credit card portfolio of HSBC Holdings into its shopping cart, as well. HSBC has been …
Here’s the final chapter in the FAA shutdown that led to airline taxes not being collected for a couple of weeks. Congress reinstated the agency’s authority on Aug. 5, but plenty of confusion remained surrounding taxes not levied or not collected during that period. Were travelers who purchased their ticket prior to the shutdown but flew …
Technological advances and the proliferation of smartphones have given consumers an increasing number of ways to pay for goods and services using their mobile phone. Many of these options are similar to online bill paying, in …
The full impact of ratings agency Standard & Poor’s downgrade of U.S. debt remains unclear. But one outcome credit analysts say is almost certain is higher consumer interest rates.
The Los Angeles Times recently reported that a TSA worker was caught after stealing valuables from passenger luggage. Among the pilfered items was a prepaid debit card with $1,000 loaded on it. While having a debit card stolen is …
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 …
Online banking has moved from the early-adopter fringe into the mainstream, and analysts say this trend is on track to continue. According to Fiserv, a financial services technology company, 80 percent of all U.S. households with …
Earlier this year, the Pew Charitable Trusts published the results of a study of the nation’s 10 largest banks and found that the median length of checking account disclosures is a whopping 111 pages.
