Category Archives: Banks

Foreclosures Dwindle to Pre-Housing Crisis Levels

Could the foreclosure crisis officially be over? Foreclosure filings in the first quarter of 2013 fell to the lowest level since 2007, according to new data from RealtyTrac. This March, banks took ownership of 44,000 homes. While it may sound like a lot, compare that with September 2010, when banks repossessed more than 100,000 properties…. Read More »

Despite Consumer Protection Laws, Overdraft Fees and Payday Loans On the Rise

Remember back in 2010 when the Federal Reserve enacted new rules meant to protect consumers from the hidden cost of overdraft protection? If you’re like most folks, the answer seems to be no. A new report shows that more people are incurring overdraft protection fees – and banks are reaping the profits. Banks and credit… Read More »

New Rules Mandate Banks Must Do More to Help Troubled Homeowners Avoid Foreclosure

Homeowners struggling to stay current on mortgage payments may soon have an unlikely ally: big banks. Last week, the Consumer Financial Protection Bureau debuted a new set of rules requiring U.S. banks to start evaluating defaulting borrowers for all possible loan assistance options, from programs available via mortgage giants Freddie Mac and Fannie Mae to… Read More »

As Bank Fees Soar, Consumers Already Struggling with Debt Search for Solutions

Raising fees is nothing new for big banks. But recently, checking and ATM fees seem to be reaching unprecedented levels, say bankruptcy attorneys. According to, just 39 percent of checking accounts are now free of charge, compared with 45 percent last year and 76 percent back in 2009. While using your own bank’s ATM… Read More »

Prepaid Cards May Take Advantage of Consumers Already Drowning in Credit Card Debt

As banks increase fees, more consumers are forgoing traditional checking accounts for prepaid debit cards. Back in 2009, consumers loaded $28.6 billion onto prepaid cards. By 2013, that number is expected to grow to more than $200 billion, according to CNN. But while prepaid cards may save a few bucks in the short term, they… Read More »