Category Archives: Banks
Loan Modification Program Hits Target, But Is It Enough?
The economy might be recovering, but we’re not out of the woods yet – especially when it comes to foreclosures. Even though a $75 billion government anti-foreclosure program recently reached its goal of helping 500,000 folks get loan modifications, that’s only one-eighth of the 4 million homeowners it originally set out to assist. And while… Read More »
Why Prepaid Debit Cards Might Not Be Such A Good Deal
When gift cards surpassed traditional presents in popularity, I knew it was only a matter of time before we started just giving cash. And then, just as I predicted, the prepaid debit card arrived. It’s sort of the equivalent of cash, but more convenient than carrying around a wad of bills (and less awkward than… Read More »
Banks Limit Debit Cards Fees, But Will it Make a Difference?
In light of growing discontent over their unfair debit card fees, some big banks are considering changing their tune – ever so slightly. Financial giants JPMorgan Chase and Bank of America just announced changes to their overdraft protection policies. Though they won’t eliminate the controversial program, both banks plan to limit the amount of overdraft… Read More »
Big Banks Revise Debit Card Fees, But Does It Help?
Big banks don’t like to be told what to. So with the news that federal regulators are considering legislation to control overdraft fees, a couple of the financial companies took matters into their own hands. Bank of America and JPMorgan Chase recently announced that they would reduce the maximum number of overdraft fees – the… Read More »
Even Small Debit Cards and ATM Withdrawals Can Lead to Big Fees
Since when does a cup of coffee cost $40? Since banks started using debit cards to make profits off their customers. In the past few years, consumers have increasingly turned to debit cards and cash rather than credit. It makes sense – most Americans are carrying some sort of debt burden and we don’t want… Read More »