Late fees, loan-origination fees, over-the-limit and overdraft charges helped generate 53% of banking-industry income in 2008, according to Bob Hammer, chief executive of bank-card advisory firm R.K. Hamme, up from 35% of income in 1995.
Entries Tagged as 'banking fees'
10 Ways Banks Take Your Money
July 8th, 2009 · No Comments · Banking, Credit Cards
Tags: Annual Fees·ATM·avoiding overdraft fees·banking fees·checking accounts·Closing Accounts·Credit card·Inquiries·maintenance fees·over the limit·Service fees·Teller
Feds Cut Rates, Yet Credit Card Rates Continue Upward??
December 9th, 2008 · No Comments · Banking, Consumer Debt, Credit Cards
It’s a classic case of “what is wrong with this picture”: the Federal Reserve recently slashed it’s benchmark interest rate for the umpteenth time this year to 1%, it’s lowest level in years, yet many consumers are getting broadsided with higher rates and fees on their credit cards. So what gives?
The bottom line is, the [...]
Tags: banking fees·consumer spending·credit card fees·credit card rates·Credit Cards·higher fees·increased credit card fees·interest rate increases
Banks Increasing Reliance on Income From Late and Over-the-Limit Fees
June 25th, 2008 · No Comments · Banking
Isn’t Congress supposed to be doing something about $40 late and over the limit fees
From 2002 to 2006, the nation’s ten largest banks increased their reliance on fees by 17%.
From 1994 –2005, over–the-limit fees in the credit card industry more than doubled, while late fees nearly quadrupled.
Interchange fees–fees credit card issuers charge merchants when [...]
Tags: ATM fees·banking fees·credit card fees·increased banking costs·interchange fees·late fees·over the limit fees·overdraft fees
