Interest Checking Archives

There’s a sense of growing discontent among the U.S. public, with many wondering if current economic trends (especially regarding jobs) have become current economic culture. In other words, are things going to stay this bad for a long time? Read more»

By Christopher S. Rugaber, AP Economics Writer WASHINGTON (AP) — Banks will have to secure their customers' consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced Thursday by the Federal Reserve. Read more»

Consumers and members of Congress are up in arms about overdraft fees on debit cards, which were supposed to be the alternative to high-cost credit cards. The classic example is the $3 cup of coffee, with a charge of a dollar or two triggering a mammoth penalty. Consumers can be hit with charge after charge without realizing it until the monthly statement arrives. Read more»

NEW YORK (TheStreet) -- The Federal Reserve made the widely anticipated declaration on Wednesday that it will continue its cheap-money policy that has helped spur an economic recovery, while weighing on the dollar. Read more»

Ever since the financial crisis, there has been a movement toward forcing financial institutions to behave in a more consumer-friendly manner. To this end, Congress is considering the overdraft fees banks charge as a follow-up to credit card regulation reform. Read more»

All that talk in Washington about holding banks accountable for hefty overdraft fees is finally turning to action. Read more»

These days, even the White House’s economic team is tamping down expectations for an economic recovery – only weeks after the Obama administration sent out some smoke signals that the worst was behind us. Read more»

By Jim Abrams, Associated Press Writer WASHINGTON (AP) — Bank customers who overdraw their checking accounts would get new protections from excessive penalties under legislation proposed Monday by the Senate banking committee chairman. The measure unveiled by Sen. Christopher Dodd, D-Conn., would give people a choice in whether they want to participate in overdraft programs that charge fees for covering ATM withdrawals and debit card transactions. Read more»

We’ve all been there – standing in line at a grocery store “15-items-or-less” checkout line, hands on hips, waiting for the clueless shopper to finish writing a $12.50 check for a quart of milk, two boxes of Ring-Dings and a box of laundry detergent. Read more»