From the category archives:

Banking

Overdraft Fees Are Up

March 20, 2012

Per Moabs, banks raised overdraft fees by an average of $2.50 per item last year. The increase is linked to guidance from the FDIC and OCC on overdrafts which in turn cost banks billions in fees. Moab believes the rise in overdraft fees will cost consumers who overdraw their accounts an additional $2 billion per […]

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Banks Working Harder to Collect Credit Card Debt

September 10, 2008

According to an article in today’s Wall Street Journal, big credit card companies are ramping up collection efforts on their credit card portfolios. Citigroup has hired a number of new collectors and have increased the frequency of calls to delinquent account holders. American Express is offering to cut interest rates and fees, while Bank of […]

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Late Payments On Consumer Loans Reach 16 Year High

April 6, 2008

A recently released survey from the American Bankers Association shows consumer loan delinquencies have reached a 16 year high. Loans at least 30 days past due in in the most recent quarter totaled 2.65%. This is the highest level of delinquency since 1992, when delinquencies totaled 2.75%. Source: USA Today – Late payments on consumer […]

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5 Tips for Protecting Your Checking Account

January 11, 2008

The Federal Reserve recently released a short publication detailing five tips that consumers should remember to maintain their checking accounts and protect their money from identity thieves. The tips for protecting your checking account data are: Don’t give your account number and bank routing number information to anyone you don’t know. Comment: These two pieces […]

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All About Check Conversion

January 7, 2008

You’ve probably noticed – if you are still a check writer – that more an more stores are now "converting" your check into an electronic format.  There are three common methods of check conversion, and we will look at them in this post.  All methods utilize the ACH (Automated Clearing House) network to clear electronic […]

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