Keyword Search Results
Overdraft Fees
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Press:
The debit card trap
Not many people would knowingly pay more than $35 for a cup of coffee. But far too many people are getting saddled — with no warning — with outsized bills for minor purchases, under a… -
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The death of overdraft fees
More than a decade ago, when he was a student at George Mason University, Becnel overdrew his Bank of America checking account when he bought a cup of coffee, resulting in a penalty of about… -
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Overdraft fees: Now it’s up to the customer to accept
Michael Lupacchino, 22, a marketing assistant for an information technology company in Boston, occasionally visits a Sovereign Bank branch near his office to conduct transactions. On at least three recent occasions, he says, a bank… -
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Banks push lucrative overdraft programs
Hoping to preserve more than $10 billion in annual fees, banks and credit unions are pushing hard for customers to accept costly overdraft protection on their debit and ATM cards. The marketing blitz, which includes… -
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Big banks resisting changes to overdraft fee policies
Say this about big banks: They’re persistent. A federal judge this week ordered Wells Fargo & Co. to pay more than $200 million to customers for having processed debit card transactions in such a way… -
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The FDIC’s guidelines on overdraft fees
Should financial institutions be responsible for watching out for, and offering alternatives to, customers who chronically overdraw their accounts? The Federal Deposit Insurance Corporation seems to think so. The agency issued suggestions on Wednesday for… -
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New limits on overdraft fees take effect
New regulations took effect this week banning banks from allowing consumers to automatically overdraft their checking accounts - and charging those customers high fees in the process - a practice that government officials say unfairly… -
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Overdraft fees: How to avoid them
Holly Rhodes of Baltimore says she’s willing to pay a fee if she overdraws her checking account, something she acknowledges happens a little too frequently. But the 25-year-old complains that her bank processes her checks… -
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Bank fee Whac-a-Mole: New charges hit accounts
Bank fees: They’re like a game of Whac-a-Mole. The minute one set is banned, a whole new set pops up. In August, the Card Act banned a variety of fees—including certain overdraft and excessive late… -
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Some banks step up to help victims of Hurricane Irene
As Hurricane Irene has left East Coast residents with rushing water, power outages and mounting bills, some banks are offering financial help. Banks and credit unions are temporarily waiving overdraft fees, letting customers skip payments… -
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Consumer inquiry focuses on bank overdraft fees
The Consumer Financial Protection Bureau is beginning an inquiry into how banks levy overdraft fees they charge customers who bounce checks or withdraw more than they have in their accounts using debit cards or automated… -
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Nine U.S. banks said to be examined on overdraft fees
Two years after regulators gave Americans more power to manage overdrafts of their checking accounts, the Consumer Financial Protection Bureau is reviewing bank practices to determine if the crackdown went far enough. The agency, which…
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