overdraft fees

How 'Short-Term' Payday Loans Cause Long-Term Woes

A new report from the Center for Responsible Lending paints a seriously depressing picture of the damage the payday loan industry wreaks on its customers. What's worse is that the report actually understates the grim reality facing payday borrowers today.

Goodbye, Free Checking; Hello, New Bank Fees

The era of free checking accounts is coming to an end. Many consumers will face an extra $144 a year in account fees, plus higher dues for their debit cars, and increased ATM charges, too. It's all part of a banking industry backlash against last year's consumer friendly financial reforms.

Consumers May Get Hit With Higher Debit Card Fees

New rules proposed by the Fed for debit card transactions may mean that consumers end up paying much more for using their cards, while big retailers save billions. The proposed rules would sharply limit the transaction fees sellers have paid, which could push banks to recoup that money directly from buyers.

How to Tell If It's Time to Switch Banks

The consumer advocates at the Center for Responsible Lending have released a checklist of tough questions people should ask their banks to make sure their needs are being met -- and and to ensure they aren't paying unnecessary fees.

Legal Briefing: Will Banks Have to Refund Overdraft Fees?

A judge ruled that Wells Fargo has to pay its customers restitution for processing checking-account transactions in a way that makes the most charges bounce and maximizes overdraft fees. Other banks have also been sued over this issue.

Wells Fargo Ordered to Pay $203 Million Restitution for Overdraft Fees

Wells Fargo (WFC) was ordered to pay customers in California $203 million in restitution for claims that it had manipulated transactions to boost the overdraft fees it could levy. United States District Judge William Alsup said that Wells Fargo processed the transactions in order of size, largest to smallest, rather than in the order they were received, The New York Times said.

As Some Banking Fees Fall, Others Will Rise

As new laws clamp down on some credit card and account fees, banks are likely to find other ways to offset the lost income. Among the possibilities: Hefty increases in annual credit card fees or an end to free checking.

Bank of America ends overdraft fees

It sounds incredible, especially to those of us who have been covering the banking industry, but Bank of America is ending the practice of issuing...

Overdraft anger? Call Congress

If you're fed up with overdraft fees, you're not alone. During a telephone press conference held earlier this afternoon, which I sat in on, Consumer...

Former Bank of America Employee Tells All in Video

Jackie Ramos, a former "customer advocate" from the collections department at Bank of America, posted a video on YouTube in which she offers an inside scoop on the practices of the bank. Ramos says that while her former employer encouraged her to "do the right thing for the customer," she soon came to realize that her job was actually to squeeze as much money as possible from the company's cardholders.