Tag Archives: Banks
Bank Fees Survey Mid-2014: Fees Hit New Highs
by Richard Barrington, MoneyRates.com
A new survey of checking account fees finds that average fees rose to new heights across a number of categories so far in 2014. However, it’s a notably different world if you look at online-based checking accounts and those serviced by a traditional branch network. The average monthly fee for an online account is $8.61, compared to $12.95 for a traditional checking account – and online banks are far less likely to even charge such fees. Big banks are where customers are likely to find the highest costs. Read More ›
With Citigroup paying up, will feds’ attention now turn to BofA?
by E. Scott Reckard, Jim Puzzanghera, The Los Angeles Times
With Citigroup Inc. agreeing to pay $7 billion for issuing toxic mortgage securities, the Justice Department now turns to settling its case against what analysts call the biggest mortgage miscreant of all: Bank of America Corp. In the Citi deal, California will be among several states that will share in the settlement. Citi will pay California $102.7 million to offset losses at its public pension funds, primarily the California Public Employees’ Retirement System. California also is guaranteed at least $90 million in consumer relief, the most of any state. Read More ›
Banks That Market To & Serve Military Also Tacking On Huge Fees
by Chris Morran, Consumerist
One might assume that banks marketing to U.S. military servicemembers would not be out to nickel and dime these men and women with unnecessarily high fees on their accounts. But among those financial institutions levying the highest level of fees on its account-holders are several that not … Read More ›