"It's Hard for Me to Say I'm Sorry"

So sang Chicago in the iconic song. If only my bank were as willing to utter those words. I wrote a postdated check to a doctor's office, something we have all done at some point. It's not surprising that the doctor's office made a mistake and deposited the check early. Mistakes do happen. It's also not terribly surprising that the bank processed the check when it was presented. Again, mistakes do happen. The bank's response to their error is what truly boggles the mind. ...more

Debit Card Fees: Retailers vs. Banks, But Will Consumers Lose?

There is a fight going on between bankers and merchants over what happens when you swipe your debit card at the grocery store or at the mall. When you make a purchase with your debit card, the retailer has to pay 1% to 2% of the total purchase price to banks. Banks want to keep the fees, merchants want to cut them down. ...more

Consumers Face New Bank Fees

Remember those $35 checking account overdraft fees that were almost universally hated? Banks are in the business of making money. In previous years, they scored big profits on high overdraft fees. When the credit card reform act passed in 2009, however, new regulations meant that banks will no longer be making big bucks from fees and penalties. But consumers won't be seeing a end to fees -- as some fees went away, others popped up. ...more
I checked out our local credit union after my bank announced new fees and found out I had been ...more