(Brad Clinesmith)

Citizens Bank Must Pay $31.5M In Fines, Refunds For Failing To Credit Full Deposit Amounts

Several federal agencies teamed up like your favorite buddy-cop movie to bring down the bad guy today. In this particular case the bad guy was Citizens Bank, which must now pay a total of $20.5 million in penalties and $11 million in refunds to the owners of accounts it allegedly failed to credit for full amounts of deposited funds. [More]

Charging Fewer Fees Doesn’t Mean Banks Aren’t Making Billions Of Dollars From Customers

Charging Fewer Fees Doesn’t Mean Banks Aren’t Making Billions Of Dollars From Customers

Despite the fact that consumers pay more than $32 billion annually in overdraft fees alone, a new report found that the amount of money banks make off customer-account fees declined for the first time in seven decades. [More]

Overheard In 10 Million American Households: Bank Account? What Bank Account?

Overheard In 10 Million American Households: Bank Account? What Bank Account?

I used to know a guy who kept his money hidden in his home because he didn’t trust banks. Like, all of it. He would never tell me where, obviously, guess though I may (Freezer? Under the mattress? Behind the “secret” DVD collection?). He isn’t alone — there are 10 million American households that don’t have bank accounts, a number that is increasing every day. [More]