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NEWS ABOUT: banking fees

Bank of America Readying New Fees

Will likely drive off free checking customers

(Newser) - The public relations disaster that was Bank of America's plan to charge customers monthly debit card fees was apparently so much fun that bank execs can't wait to try it again: In what the Wall Street Journal calls a sign of "stresses" in the banking industry, BofA... More »

Unemployed Stung by BofA Fees on Benefits

Big banks benefit from debit card programs

(Newser) - Bank of America has retreated from plans to charge a monthly debit card fee , but some of the people who can least afford it are still being stung. In South Carolina, one of several states that have contracted with BofA to deliver unemployment benefits through debit cards instead of checks,... More »

Beneficiary of All That Banking Hatred? Walmart

Americans turn to MoneyCenters' a la carte services

(Newser) - Americans who are mad as hell and not going to take banks' outrageous fees anymore are heading straight to ... that little mom 'n pop shop known as Walmart, reports the New York Times . The retail juggernaut—which four years ago ditched plans to get a banking charter amid an... More »

More Banks Scrap Debit-Card Fees

Bank of America now only bank still planning new charges

(Newser) - The people have spoken—and the banks have listened. SunTrust Banks and Regions Financial have become the latest banks to stop charging customers for using their debit cards. JPMorgan Chase and Wells Fargo have also scrapped testing the new charges, and several other banks say they have no intention of... More »

Bank Charges for Deposits as Investors Panic

Banking giant slaps fee on major accounts

(Newser) - So many big investors are fleeing stock market turmoil for the safety of bank accounts that money market rates have dropped below zero and large amounts of cash have become a nuisance for at least one institution. Bank of New York Mellon, which specializes in handling cash for corporations and... More »

Wells Fargo Fined $203M for Gouging

'Profiteering' bank ordered to repay overdraft fees

(Newser) - Wells Fargo is guilty of gouging and profiteering and needs to return $203 million in overdraft fees to customers, a San Francisco judge ruled yesterday. The bank's practice of processing transactions from the largest to the smallest instead of in the order in which they occurred is clearly designed to... More »

Watch Out for These New Credit Card Traps

Banks invent ways to circumvent regulations

(Newser) - As expected , banks are coming up with creative new ways to recoup money lost to new regulations on credit cards. The Wall Street Journal runs down a handful:
  • "Professional" cards: These are being aggressively marketed to, well, professionals. The catch: They're not covered under the new consumer regulations.
... More »

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