Discover Bank will pay millions in fees to settle accusations by U.S. regulators that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring.
Capital One Bank is paying $165 million to settle charges that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring.
The Consumer Financial Protection Bureau said Wednesday that it will ask banks for information about how overdraft fees affect consumers, how overdraft protection is marketed and what information consumers receive.
Dissatisfaction with bank fees has brought about “Bank Transfer Day” and it happens Saturday.
Bank of America Corp. is scrapping its plan to charge a $5 monthly fee for making debit card purchases after an uproar and threatened exodus by customers.
Bank of America will start charging debit-card users $5 a month to pay for purchases. The move comes as the cards increasingly replace cash and as banks look for ways to offset the loss of revenue.
Only 65 percent of banks still offered free checking accounts last year. In fact, the cost of managing your money is going up across the board. Get some tips on how can you protect your money.