Category Archives: Banks
Rising Bank Fees Put Strain on Consumers Saddled with Credit Card Debt, Other Obligations
Banks are supposed to protect our money. But these days, they seem to be nickel and diming us out of every cent. According to a recent survey, the nation’s biggest banking institutions are piling on new fees – and increasing the minimum balances customers must maintain to avoid those fees. For instance, the average monthly… Read More »
For Consumers Pushed Into Predatory ‘Advance Loans’ By Big Banks, Bankruptcy May Be Best Way Out
Banks are supposed to protect the money we deposit in checking accounts, not rob us of it. But that’s exactly what they’re doing with new short-term high-interest arrangements known as advance loans. Big banks such as U.S. Bank and Wells Fargo are increasingly promoting the loans, which are offered through direct deposit checking accounts. Their… Read More »
Chicago Bankruptcy Attorneys Warn of Predatory Loans Big Banks Are Handing Out to Customers
Payday loan companies have long been criticized for their predatory nature. Now, the nation’s biggest banks are surreptitiously doing the same thing under a different name. Lenders like Wells Fargo and U.S. Bank have begun offering advance loans through checking accounts with direct deposit. Like payday loans, these advance loans are short-term and high-interest. Struggling… Read More »
Banks Refuse to Help Homeowners with Underwater Mortgages in Atlanta on Moral Grounds
It was big banks that helped homeowners get in over their heads during the height of the housing bubble. So why are lenders now claiming they have a moral obligation to not help us out? Chalk it up to what’s known as moral hazard, or the theory that people will take undue risks if not… Read More »
Banks Claim Moral Hazard to Avoid Helping Homeowners with Underwater Mortgages in Chicago
The more trouble you’re in with your mortgage, the less likely your bank may be to help. At least, that’s the idea behind the moral hazard argument banks are using to avoid assisting homeowners. Originally an insurance term, “moral hazard” is taking on new meaning in an era of bank bailouts and help for struggling… Read More »