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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: debit card

debit card stories: 4 news summaries


 Fed Restricts Overdraft Fees 

Customers must opt in for coverage of ATM, debit transactions

Nov 12, 09 1:06 PM CST
(Newser) - Starting in July, banks will have to get consumers' explicit consent before authorizing an overdraft—and the accompanying fee—on debit and ATM card transactions. Since the advent of the financial crisis, overdraft fees have become the biggest source of consumer fee income for banks. Congress is also considering making... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • debit card • ATM • financial crisis • overdraft fee

Debit Card Overdrafts Bring Banks Billions

Fees make credit card shopping look like the smarter thing to do

Sep 9, 09 9:29 AM CDT
(Newser) - Debit card overdraft fees are helping to pay banks’ bills in the recession—and they're hitting customers hard, the New York Times reports. “Banks will let you overspend on your debit card in a way that is much, much more expensive than almost any credit card,” says an... More »

MORE ABOUT:
bank • debit card • credit card • fees • regulator • overdraft fee

Man's Debit Card Charged
$23 Quadrillion—for Smokes

Bank of America tacks on $15 overdraft fee for good measure

Jul 15, 09 3:25 PM CDT
(Newser) - Josh Muszynski was just trying to buy cigarettes. But when he swiped his debit card, the New Hampshire man incurred a charge for $23,148,855,308,184,500—plus a $15 overdraft fee added by Bank of America, WMUR-TV reports. “I thought somebody had bought Europe with my... More »

MORE ABOUT:
Bank of America • debit card • overdraft fee • computer error


 Debit Cards Overtake Credit 

A surge in debit-card usage reflects a shift from the days of easy credit

Apr 30, 09 8:35 AM CDT
(Newser) - The recession has boosted the popularity of debit cards, the Wall Street Journal reports. In the last quarter of 2008, debit-card transactions processed by Visa were 50.4% of the company’s volume, surpassing credit cards for the first time. Rival MasterCard’s debit volume surged 13% last year as... More »

MORE ABOUT:
recession • debit card • credit card • Visa • MasterCard • financial crisis

4 Stories


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