FinancialReform

Banks Made Less on Overdraft Fees Last Year

The average fee for overdrafting your bank account rose again last year, but evidently, more Americans are doing a better of job managing their checking accounts, because the amount paid in overdraft fees dropped by $2.5 billion in 2011, after a $3 billion drop in 2010.

How a Debit Card Fee Cut Backfired on Merchants

Washington's efforts at financial reform keep having strange and unintended consequences. In response to a law that was meant to lower excessive debit card transaction fees on merchants, Visa and Mastercard found a way to raise the fees on a host of small businesses.

Banks Back Away from New Fees, Eye Cost Cuts

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.

Beyond Card Fees: Banks Look To Sell Your Data

New and higher debit card fees may not be enough to satiate the big banks. Financial institutions looking for more revenue are now eyeing another potential source of money: Selling your debit-card transaction data to marketers. So which is worth more to you: The deals such targeted advertising will bring, or your privacy?

Bank Fees: What's the Breaking Point for Customers?

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.

Online Banks Booming as People Flee Wall St. Giants

While thousands of Americans unleash their anger at big banks in protests around the country, many more are registering their dissatisfaction from their keyboards. In the wake of last week's news that Bank of America is adding a new $5 fee for debit card use, online-only banks saw waves of new customers coming through their virtual doors.

The Tricky Logistics of Occupying Wall Street

Three weeks after it began, Occupy Wall Street is getting its second wind, with a wave of celebrity support, and linked protests popping up in other cities. But camping out in Manhattan is getting logistically ever more complex: How long can Occupy Wall Street continue to actually occupy Wall Street?

MetLife Sells Bank Unit to Avoid New Fed Regulations

In order to avoid new federal rules and heightened scrutiny from regulators, MetLife has decided to sell its banking unit. That's a smart move for the nation's largest life insurer, and keeps it on a level playing field with its competitors.

Congress Steps Up the Battle Over Card 'Swipe Fees'

An increasingly heated debate about so-called swipe fees, the estimated $48 billion that merchants pay to banks and credit card companies for the use of those ubiquitous debit card terminals, is taking place in Congress as it considers a package of reforms that could limit how much merchants can be charged for debit card transactions.