wells fargo
With student loan default rates rising due to persistently high unemployment rates, it's easy to vilify the seemingly endless monthly payments that follow graduation. But take a closer look, and you'll find that the news about student loans is more good than bad.
Big banks risk losing as much as $185 billion in the next 12 months as account holders say no to being nickeled and dimed, according to a new report
More than 13 million Bank of America debit-card customers could see some repayment for excessive overdraft fees the bank charged them over the course of a decade. A federal judge has approved a $410 million settlement to compensate customers who were charged fees as a result of the bank posting transactions from highest to lowest dollar amount, rather than in the order they occurred.
Bank Errors Make Lowest Interest Rates Harder to Land
3:01PM 11/07/2011
Borrowers looking to capitalize on historically low interest rates to refinance or buy homes are discovering those rates are often out of reach -- and not necessarily because of their credit scores. Understaffed banks, rigid rules, and low-ball appraisals are costing customers the best deals.
Bank Transfer Day: Small Protests, Big Changes
1:35PM 11/07/2011
Did Bank Transfer Day work? Over the weekend, many Americans came out to protest big banks, and while there's no hard data yet to gauge the day's impact, credit unions around the country are reporting a continuing upsurge in interest. And the protests don't appear to be fading.
Resentment Builds Ahead of Bank Transfer Day
2:30PM 11/04/2011
People, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Banking
On Saturday, tens of thousands will march, protest and move their money out of big banks. But plenty of Americans haven't waited for Bank Transfer Day. For Frank Sheldon of Seattle, his journey to a credit union started in 2008 when his old bank was absorbed by J.P. Morgan Chase.
Between the outcry over Bank of America's new fees and the approach of "Bank Transfer Day," low-profile credit unions have been receiving a lot of attention. But the publicity has exposed a number of commonly held false beliefs about credit unions. Let's debunk a few of the most common.
Banks Back Away from New Fees, Focus on Cost Cutting Instead
8:15AM 10/29/2011
Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Banking
The financial world's fee fever may have abated -- for now. Several big and medium-sized banks say they're not implementing fees for debit card use anytime soon. But with bank revenues slipping, they do need to act, and more are considering cost cuts to repair their bottom lines.
Why Credit Unions Are a Better Financial Choice For Us Than Big Banks
8:00AM 10/22/2011
Millions of Americans are disgusted with the big bank status quo, and many are closing out their accounts and moving their money to smaller institutions. It's a good time to do it: Credit unions are waiting with open arms, a customer-centric philosophy -- and incentives.
Bank Fees: What's the Breaking Point for Customers?
2:03PM 10/19/2011
Bank of America learned pretty quickly last month that customers think $5 a month is too much to pay to use a debit card. But is there such a thing as a reasonable bank fee? One in three people say they're prepared to walk away from their financial institution to avoid a fee, a new survey reveals.
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