Americans feeling disenchanted (or worse) with their banks after years of ever-increasing fees are increasingly turning to a cheap alternative tool provided by the world's largest retailer: the Walmart MoneyCard.
Consumer activists are pushing bank regulators to allow people to take their account numbers with them when they switch banks, just like cellphone numbers. Such account number portability might encourage banks to treat customers better because it would make it easier for them to leave.
The gradual addition of extra fees to your cellphone bill can be a bit like gaining weight -- you don't keep track of your habits, until one day you open your bill and experience "bill shock." The FCC thinks you deserve advanced warning, and starting soon, your cell provider will have to give it to you.
Last week, Bank of America ignited a firestorm of controversy by choosing to charge its customers $5 a month to use their debit cards. Now, an angry consumer group has called for a federal investigation. Is this overkill or a smart response to what could be a budding disaster for the bank -- and taxpayers?
If Apple comes out with an iPhone 5 this summer, what happens to those customers who just shelled out a few hundred dollars for the newly released Verizon iPhone 4 this week? Consumers Union, publisher of the highly influential 'Consumer Reports,' is calling on Verizon to clarify its upgrade policy.
Banks? insatiable appetite for fee income may be swaying many consumers to use prepaid debit cards to avoid high, unfair fees, to gain control of debt and to gain access to banking services more cheaply.
