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Date Resource Read it at:
Jul 18, 2012 Capital One to pay $210 million in fines, consumer refunds

QUOTE: Cardholders who enrolled in a payment protection or credit monitoring product -- or who tried to cancel one of these products but were persuaded by a call center representative to keep it -- on or after August 1, 2010, will be refunded the money they paid for the product, as well as any finance charges, over-the-limit fees or interest paid....The latest action marks the first enforcement for the bureau since it began regulating credit cards, mortgages and consumer reporting agencies as part of the Dodd-Frank regulatory reform last year.

CNN/Money Magazine
Jan 27, 2012 Wanted: Banking App to Monitor Balances (Your Money)

QUOTE: If you want to know how close you are in the middle of any given month to being assessed an $8 or $10 or $20 fee when the month ends, you need to do the math each day yourself. The resulting effect is this: Many banks have built free-checking scoreboards for people who want to avoid fees, but they’re not putting the numbers up until the monthlong game is over.

New York Times
Oct 07, 2011 Checking Account Wars, Behind the Scenes (Your Money)

QUOTE: So the big banks make you pay, and the most aggressive of the little institutions want to pay you.... Even when nearly everyone had free checking several years ago, however, there were all sorts of questionable activities going on behind the scenes to pay for it.

New York Times
Oct 06, 2011 Charging for Debit Cards Is Robbery

QUOTE: When Bank of America told its customers recently that it would start charging them $5 a month to use debit cards, it argued that it was forced to make that change because of regulations that altered the economics of the cards....But the banks’ simplistic statements are merely an attempt to rationalize and obfuscate one of the largest illegal transfers of wealth from consumers to banks in American history.

New York Times
May 11, 2011 Prepaid Cards Subject Jobless to Host of Fees

QUOTE: A report out this week from the National Consumer Law Center lays out a host of ways in which banks nibble away at jobless benefits with fees the center called “junk.”

New York Times
Mar 10, 2011 Bank Customers Win One (Soon)

QUOTE: In practice, however, banks that receive garnishment orders routinely freeze a customer’s account up to the amount of the debt, even if the account contains protected funds. Unfreezing an account often requires a lawyer and invariably involves delays, which can be devastating for low-income beneficiaries.

New York Times
Mar 12, 2010 Overdraft Protection: Why Bother?

QUOTE: Overdraft, in other words, is the very last resort. After a credit card. After account alerts. After tapping home equity. Or, presumably, after you’ve maxed out or ruined your credit and have no home equity left.

New York Times
Jan 09, 2010 The Damage of Card Rewards (Your Money)

QUOTE: the 1 to 3 percent or more of every transaction that merchants pay to accept the cards is a significant cost, and the small local retailers that make neighborhoods vibrant often pay a higher percentage. Stores then build those fees into higher prices, so people who aren’t earning any rewards can end up subsidizing those who do.

New York Times
Oct 05, 2009 Prepaid, but Not Prepared for Debit Card Fees (The Card Game)

QUOTE: For many people who do not have bank accounts, or cannot get a credit card, the appeal [of a prepaid debit card] is irresistible... But their convenience comes with a catch: fees, often hidden in the fine print.

New York Times
Sep 21, 2009 Democrats Target Bank Overdraft Charges: Bailed-Out Firms Lean More Heavily on Fees

QUOTE: A backlash is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers...

Washington Post
Sep 16, 2008 FDIC insurance protects your money (except when ...)

QUOTE: "The lessons of the Depression prompted the government to act quickly to protect bank customers from disasters beyond their control," says Kathleen Nagle, associate director for consumer protection at the FDIC.
Aug 29, 2008 Automated Bill Payments Are a Cinch (Not So Fast) (Your Money)

QUOTE: One other thing to keep in mind: While billers make plenty of errors, consumers probably make even more. People forget to pay, pay late or pay the wrong amount. Part of the point of automation is to protect the mistake-prone from themselves.

New York Times
Jul 18, 2008 10 Things Your Bank Won't Tell You

QUOTE: Our branches are there to sell you, not serve you."....College campuses are a gold mine for us....In debt? The courts won't help....Your online account info isn't necessarily accurate.

Smart Money
May 07, 2008 UBS Banker Detained in Tax Inquiry

QUOTE: A top-ranking UBS executive was briefly detained by federal authorities in the United States in connection with a widening investigation into the Swiss bank’s work with questionable tax transactions...

New York Times
Mar 19, 2008 What went wrong

QUOTE: For the critics of modern finance, Bear's swift end on March 16th was the inevitable consequence of the laissez-faire philosophy that allowed financial services to innovate and spread almost unchecked. This has created a complex, interdependent system prone to conflicts of interest. Fraud has been rampant in the sale of subprime mortgages.

Mar 02, 2008 Banking Fees Are Rising And Often Undisclosed: Undercover Teams Can't Pry Data From Branches

QUOTE: Banks are failing to provide consumers with information about fees on savings and checking accounts even though federal rules require such disclosures, according to a government report...

Washington Post
Apr 13, 2007 Five Sneaky Bank Fees

QUOTE: You may have free checking with your bank, but that doesn't mean you aren't paying fees elsewhere. Here are five sneaky fees to watch out for: overdraft shell game fees, paper fees, courtesy-overdraft fees, point-of-sale fees, and last-minute bill pay fees.

Smart Money
Jan 05, 2007 Company credit card reimbursement games

QUOTE: I work for an organization and routinely front for expenses and am later reimbursed. Recently, I charged more than $75,000 on credit cards for expenses. My question: Is it worth it to transfer the $75,000 to a zero interest card and deposit my reimbursement money into a high yield savings account? Or am I playing with fire...

QUOTE: You shouldn't have to run background checks on his guests or bolt your possessions to the floor. He is responsible for people he brings into your home. .... By unilaterally accepting this offer and abandoning you to steerage -- sorry, coach -- your friend violated an unspoken assumption of travel: Don't desert your companion.

Sep 10, 2006 On Payday, Many GIs Pay Back: Military Members Face Long-Term Costs for Short-Term Borrowing

QUOTE: a short-term loan turning into a long-term liability is a familiar scenario to payday customers, many of whom live from paycheck to paycheck and have little access to other forms of credit...Payday loans have caught the attention of Pentagon officials and members of Congress, who worry that the high fees contribute to financial problems among military personnel.

Washington Post
Aug 27, 2006 Automatic payment glitch

QUOTE: automatic payments...When you want to cancel, sometimes deductions persist.

USA Weekend
Jul 26, 2006 New scam to vatch for: vishing

QUOTE: vishing....fraudsters skip e-mail altogether and "cold call" consumers -- phoning at random for financial information. Some calls involve automated messages; some calls are live.
Jun 25, 2006 How to Get the Best Exchange Rate (and Avoid Fees)

QUOTE: ...paying more than you need to exchange currency is a real waste of money. For most travelers, the place to start is with an A.T.M. or a bank, where you are most likely to get the best rate.

New York Times
May 07, 2006 Check Bounced? Be Scared

QUOTE: But Public Citizen and the National Consumer Law Center are complaining to the media and to Congress that some check-diversion companies -- most notably, California-based American Corrective Counseling Services Inc. (ACCS) -- are engaging in abusive and deceptive collection practices.

Washington Post
Mar 13, 2006 The bank makes the rules

QUOTE: The bank sets up the rules in terms of how they post transactions to your account and, as you've learned, it's important to know how they're going to post the transactions.
Feb 07, 2006 Getting Wise to Mortgages; Web Sites Help Borrowers

QUOTE: "The general public, they think they know how to shop for mortgages...They have no clue."

Real Estate Journal
Nov 15, 2005 Shop around for best return on CDs

QUOTE: Where certificates of deposit are concerned, though, shopping around can pay off in a big way. The average interest rate for a one-year CD was 3.15% last week, according to But the highest-yielding one-year CD available nationwide was paying 4.75%.

Jul 06, 2005 Stopping a check payment is expensive

QUOTE: Making a payment with a check and then changing your mind can be an expensive proposition. Putting a stop-payment order on that check will cost anywhere from $18 to $32 at the 10 largest banks surveyed by
Jun 24, 2005 Are you being overcharged for overseas purchases?

QUOTE: This extra profit is called a foreign currency-conversion fee, and you could be paying up to 3-percent extra when you make an overseas purchase with a credit card.
Jun 15, 2005 Settlement In Enron Lawsuit For Chase

QUOTE: "J.P. Morgan Chase & Co. yesterday agreed to pay $2.2 billion to settle a class-action lawsuit alleging the bank helped Enron Corp. report misleading financial results..."

Washington Post
May 26, 2005 Bounced-check protection: Consumers caught in the middle

QUOTE: [new bounced-check protection rules--Ed.] " nothing to prevent institutions from giving high-cost, short-term credit to consumers without their consent. And they do nothing to ensure that consumers receive adequate notice about the cost of these services"...
May 26, 2005 Overdraft credit vs. bounced-check protection


Overdraft line of credit program: Potential bank liability for failure to pay overdraft
"Bounced-check protection": No liability for failure to pay overdraft.
Mar 20, 2005 Is big mortgage debt a threat?

QUOTE: A generation ago, local lenders "provided the mortgage, so the lender had a vested interest in making sure that loan would perform,"...Because loans now typically are held for a short time by originators, "due diligence is often ignored,"...

San Diego Union-Tribune
Jan 25, 2005 Avoiding maiden name mayhem

QUOTE: Not every bride takes a married name....But most women do...Do it incorrectly and it can cost you financially, get you in trouble with the Internal Revenue Service and even damage your credit rating.
Jan 18, 2005 Quicker and Quicker Quicken Sunsets

QUOTE: ...features that were essential to many customers choosing to buy Quicken in the first place -- such as downloading account data from their financial institutions, on-line bill pay, and getting stock quotes -- are essentially being turned off for users of the 2001 and 2002 versions.

Aug 26, 2004 Organizations Offer Seniors Help in Managing Finances

QUOTE: there is a growing and reasonably priced industry of financial caregivers who specialize in helping seniors manage their day-to-day personal finances. If you need this kind of help, there are two organizations you should contact -- the National Association of Professional Geriatric Care Managers (NAPGCM) and the American Association of Daily Money Managers (AADMM).

Washington Post
Aug 24, 2004 Debit Cards (tips from Clark Howard)

QUOTE: Recent stories claim that Wal-Mart was recently double billing people who were using debit cards....Any chargeback rights go out the window when you use these cards....
Aug 19, 2004 Financial Planning for the Elderly Requires Hard but Necessary Choices

QUOTE: She and her 79-year-old husband have started wondering which relative to turn to for help in managing their money in the event they become incapacitated.

Washington Post
Aug 01, 2004 Farewell to the Float: Checks Will Clear in an Instant

QUOTE: ...starting this fall, those who play timing tricks are likelier than ever to get stung by bounced-check fees.

Wall Street Journal, The (WSJ)
Jul 19, 2004 Keep Close Watch On Bank Accounts

QUOTE: ...monitor your bank even more protective of your checking account information than you are about your credit cards.

Washington Post
Jul 16, 2004 Some rubber checks cost you more than others

QUOTE: Suppose you have only $100 cash in your checking account, but you have $200 in bounce protection. Do a balance inquiry by phone or at the ATM, and some institutions will tell you there's $300 in your account.
May 19, 2003 Lenders to Those Who Sue Are Challenged on Rates in Ohio Case

QUOTE: More than 100 companies nationwide have emerged in the last few years to lend money to people with personal injury lawsuits pending, at rates of 2 percent to 15 percent a month.

New York Times
Mar 02, 2003 Experts Question Wisdom of Micro-Credit for Women

QUOTE: Micro-credit programs have long been praised as stepping stones out of poverty. But new international studies shed doubt on whether small loans can really make a difference against the enormous problem of poverty.

Women's eNews
Oct 03, 2002 Wanna Bet? Feds Say Not So Fast

QUOTE: It's not without reason that gambling industry lobbyists like to compare the U.S. ban on Internet gaming to the nation's infamous experiment earlier this century with prohibition.

Sep 27, 2002 ATM surcharges and fees climbing higher

QUOTE: If your bank doesn't own the ATM, you could pay $3 in surcharges and fees for that quick $20 you took out. Fifteen percent is a hefty price...
May 18, 2002 Forthcoming Bill Would Lay Down the Law On Escrow Refunds

QUOTE: While Congress has prescribed detailed rules on how much a mortgage company can require a borrower to contribute to an escrow account, there are no provisions in the law about the return of escrowed funds.

Washington Post
Sep 30, 2001 Checking Error Could Land You On Blacklist

QUOTE: Will no one stop the banking industry from ruining customers who make small mistakes on their checking accounts?

Washington Post
Apr 27, 2001 Consult Tax Adviser Before Parents Lend a Hand

Your parents also should confirm that they have the right to use their IRA funds to assist you with a real estate purchase.

Washington Post
Feb 22, 2001 ChexSystems: 'Big Brother' of banking is watching

QUOTE: why is everybody yelling at ChexSystems? Two reasons: it seems egregious that a few overdrafts theoretically could land you on a blacklist for five years, and once on that list, it can be nearly impossible to get off it.
Dec 16, 2000 Rules of the Road for A.T.M. Fees

ABSTRACT: ...clients using A.T.M. cards from American banks to get at their own money from overseas were not to be charged a "convenience fee" by the machine itself; the two networks usually point to the possibility that the user's own bank may have its own set of fees.

New York Times

54 Articles and Resources. Go to:  [Next 4]