Sections
overdraft fees
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1.1KNewsTop News in Payments: UK FCA Asks Banks To Explain High Overdraft Fees; Yandex Launches 15-Minute Grocery Delivery
In today’s top payments news, the U.K.’s Financial Conduct Authority (FCA) is questioning banks about a recent spike in overdraft fees, Yandex...
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1.3KInternationalUK FCA Asks Banks To Explain High Overdraft Fees
The U.K.’s Financial Conduct Authority (FCA) is questioning banks about recently-hiked overdraft fees, some as high as 40 percent and 10 times...
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4.1KBankingHSBC, Santander To Reimburse Overdraft Fees After Failing To Alert Customers
HSBC and Santander UK will refund the overdraft fees of more than 115,000 customers. The Competition and Markets Authority (CMA) reported that...
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4.2KCFPBCFPB To Review Fed’s 2009 Overdraft Rule
The Consumer Financial Protection Bureau (CFPB) announced that is reviewing the Federal Reserve‘s overdraft protection rule to find out if it “should...
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5.8KBankingLloyds Criticized For Increasing Overdraft Fees
Lloyds Banking Group is being criticized for making its overdraft fees more expensive and complicated for its customers. According to The Financial...
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7.8KBankingBanks Help Gov’t Workers Impacted By Shutdown
With the government shutdown continuing, banks in the U.S. have been stepping up to help, offering forbearance on loans and the associated...
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6.1KNewsFive At Five: Bitcoin Trader Sentenced Following Federal Jury Conviction
Welcome to the Five at Five, your late look at the payments and commerce news of the day. Coverage includes a 41-month...
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5.5KBankingLegislation Would Ban Banks From Overdraft Fees On Debit, ATM Transactions
Sen. Cory Booker has proposed legislation that would prohibit financial institutions from charging overdraft fees on debit card transactions and ATM withdrawals....
- 2.4KAlternative Finances
Are UK Overdraft Fees More Costly Than Payday Loans?
Which?, a U.K.-based consumer group, and a cross-party group of 84 MPs are taking on bank overdraft fees, demanding the Financial Conduct...
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6.2KBankingWells Fargo Overdraft Fees To Decline As It Projects A Friendlier Face
Wells Fargo, the embattled bank, warned investors at the company’s investor day meeting Thursday (May 11) that it won’t make as much...
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4.9KMerchant InnovationDiscover Forgives Fees — Well, Some — For Checking, Savings And Money Market Customers
Discover is in a forgiving mood. The payments company on Tuesday (May 8) launched a fee forgiveness program that applies to Discover’s...
- 20.5KBanking
Consumers Paid $34.3B In Overdraft Fees In 2017
Overdraft fees have reached their highest level since 2009, which was at the end of the Great Recession. Consumers paid $34.3 billion...
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14.7KBankingWells Fargo Softens Overdraft Policy
Aiming to boost its reputation after a fake account scandal last year, Wells Fargo announced Tuesday (Nov. 14) the launch of a...
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5.1KBank RegulationCFPB Gets $14M In Relief For Deceived Consumers Since Start Of Year
The Consumer Financial Protection Bureau announced Tuesday (Sept. 12) that recent supervisory actions resulted in $14 million in relief to more than...
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3.9KToday In DataToday In Data: These Brands Are Getting Skinny To Answer Dipping Stocks
Nothing sells like bad news. Certainly not Under Armour sportswear or Blue Apron meal kit subscriptions. Both companies have found themselves grasping...
- 5.6KCFPB
Overdraft Fees Cost US Consumers $15B In 2016
Overdraft fees cost U.S. consumers $15 billion in 2016, according to news from the Consumer Financial Protection Bureau (CFPB), the government watchdog...
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4.8KPayment MethodsDave, AI App, Aims To Fight Costly Overdraft Fees In The US
A new artificial intelligence–based app Dave, launched Tuesday (April 25) aiming to save consumers for costly overdraft fees. According to a report...
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4.3KSecurity & FraudTCF Sued By CFPB Over Overdraft Fees
TCF National Bank is getting sued by the Consumer Financial Protection Bureau (CFPB), which contends that the bank tricked consumers into overdraft...
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1.3KBankingSmall Banks Charge Big Overdrafts, Too
Turns out, it’s not only big U.S. banks that are charging their customers fees. According to a Pew Charitable Trusts study, small...
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3.7KDigital BankingBanking Customers Getting A Break On Fees
Fees are often a necessary evil, but when it comes to banking charges, consumers are getting a bit of a break this...
