Bank of America – now the second largest bank in the country – today agreed to pay $335 million to resolve allegations that its Countrywide unit discriminated against qualified African-American and Hispanic borrowers. The settlement, the largest of its type, must still be approved by a federal judge. The violations took place from 2004...
Overdraft fees are again taking a larger bite out of our pocketbooks. In July 2010, new regulations from the Federal Reserve required consumer consent for overdraft protection for ATM and debit card transactions. These overdraft regulations cost the banks billions of dollars in revenue, but the overdraft fees are increasing once again. Overdraft revenue...
Daniel Ganziano’s mother urged him to open up a savings account so the 18-year-old McCullom Lake teenager could learn about financial responsibility. But after his $4.85 remaining savings ended up as a triple digit loss, Daniel’s lesson turned into not trusting banks. His problem arose, according to the Chicago Tribune, after his account at...
“A 103-year-old woman and her 83-year-old daughter got a last-minute eviction reprieve when sheriff’s deputies and movers decided they couldn’t uproot the women from their longtime Atlanta home,” says MSNBC. “Fulton County Sheriff’s deputies and a moving company hired by the bank showed up at Vita Lee’s Penelope Road home on Tuesday, according to...