In recent years, most banks started approving, rather than declining, debit and check transactions that exceeded what customers had in their accounts. The banks’ rationale: consumers would rather pay $39-a-pop bounce fees, banks contend, than risk embarrassment at the checkout counter. I don’t know about you, but I would rather have my card declined. [...]
Entries Tagged as 'Banking'
Federal Bank Adds New Regulations on Overdraft Fees
November 18th, 2009 · No Comments · Banking
Tags: ATM card·Banking·checking·checking accounts·Debit Card·Federal Reserve·overdraft fees·overdraft legislation·overdraft protection·recurring debit
Getting a Credit Card With Bad Credit in a Tight Market
November 2nd, 2009 · No Comments · Credit Cards, Credit Repair
Getting a credit card in a good economy is a very easy task. In a good economy, companies will extend you credit even if you have a poor credit score. The credit these companies extend will not be good (i.e., the credit card will have numerous fees and an extremely high interest rate), but these [...]
Tags: bad credit·Banking·banking relationships·Credit card·Credit Score·credit union·economy·good deals·secured cards·shop·tight credit market
Overdraft Fee Legislation Gaining Momentum
October 21st, 2009 · 4 Comments · Banking
Sen. Chris Dodd’s battle against banking overdraft fees continues. He introduced a bill on October 19, covering ATM and debit-card transactions as well as checks. Several other Senators are on board with the reform, as the bill is co-sponsored by Senator Charles Schumer D-NY, Sen. Jack Reed D-RI,who is chairman of the Senate [...]
Tags: bailout·Banking·Banking Industry·bounced checks·Chris Dodd·credit card fees·Diane Rehm·FAIR Overdraft Coverage Act·opt-in·Overdraft·proportional fees
Even After New Credit Card Laws, Interest Rates Can Increase – Without Notification
August 24th, 2009 · 1 Comment · Consumer Debt
We’ve written about the
Tags: bank of america·Banking·Chase·credit card reform laws·Credit Cards·Fed Rate·Federal Reserve·interest rate·notification·prime rate·variable rate


