banks

Big Banks Losing Thousands Of Customers Because Of Fees

November 25, 2011
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Customer defections over fees and other charges may not drive the nation’s biggest banks out of business, but some institutions could stand to lose a significant chunk of their deposits if they don’t work harder to make customers happy. In recent years, consumers have grown increasingly frustrated as big banks instituted new fees and...

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Credit Card Debt Protection Great For Banks, Not For Consumers

November 22, 2011
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Debt protection products are sold on the idea that they suspend or cancel credit card debt for a period after a critical event, such as a lost job, disability or death. But many customers complain they were unknowingly signed up for the insurance, or unfairly denied benefits. A government watchdog has directly asked the...

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Chase Trials Of Three New Bank Fees Killed Because Of Customer Outrage

November 21, 2011
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In addition to ending the trial of its controversial debit card usage fee this week, Chase will put an end to two other bank account fees that it has been testing in various parts of the country over the past 10 months. Among the fees being pulled, is a $12 monthly checking account fee...

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Judge Approves $410 Million Bank of America Settlement For Improper Overdraft Fees

November 15, 2011
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 A federal judge has given final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade. Bank attorney Laurence Hutt said 13.2 million Bank of America customers who had debit cards between January 2001 and May...

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