Interest rates on credit cards and mortgages seem to move in mysterious ways.
The Consumer Federation of America is out with a new report finding that despite new rules that say banks must get permission from customers before charging overdraft fees, such fees are still on the rise.
In light of Wells Fargo’s test of a $3 monthly debit card fee, MainStreet looks into whether more financial institutions will follow suit, what other fees banks might introduce and whether or not these charges are necessarily a bad thing.
The Fed's announcement that it would keep interest rates low is just the latest in a string of bad news for bank deposit investors.
A survey released Wednesday by the Consumer Federation of America found that the median overdraft fee is $35, the same as it was last year. The highest fees also remain $33 to $37 per overdraft.
Consumers aren’t expecting a meaningful recovery, but with banks easing lending standards for the first time in years, they might just have their chance to lock in a deal and boost the economy in the process.
Even those in the U.S. who complain about excessive government regulation say they're in favor of rules that would require banks to clearly disclose the fees they attach to checking accounts, a new survey shows.
They might be in the business of selling, but global banks could stand to learn a thing or two from the real selling pros, big-name retailers, says U.K.-based research firm Accenture.
Wells Fargo & Co. has agreed to pay $85 million to settle civil charges that it falsified loan documents and pushed borrowers toward subprime mortgages with higher interest rates during the housing boom.
Lawmakers and enforcement agencies called for hearings and further investigation Tuesday after learning that the illegal practice known as robo-signing has continued in the mortgage industry.