This Bank Customer Satisfaction Chart Is A Sad Reminder Of Rampant Consolidation

(source: ACSI)

Maybe last week’s news that there are now fewer banks in the U.S. than ever before didn’t bother you. But here’s a chart of historic customer satisfaction scores that stands as a reminder of how so many banks have been absorbed into larger banking Voltrons in just the last two decades. [More]

$13 Billion JPMorgan Settlement Includes $4 Billion In Consumer Relief

$13 Billion JPMorgan Settlement Includes $4 Billion In Consumer Relief

Today, it’s expected that JPMorgan Chase and various federal agencies will announce a settlement worth a total of $13 billion to put to bed numerous bank-related investigations tied to mortgages and mortgage-backed securities. And about 30% of that money is reportedly earmarked for some form of consumer relief. [More]

Note to Andrew Ross Sorkin: This is what your CNBC co-worker Maria Bartiromo thinks of the "facts" in your DealBook column.

Watch CNBC Rush To The Defense Of JPMorgan Chase CEO Jamie Dimon

If you go on TV to argue a controversial viewpoint, it’s to be expected when the host of the show questions you on your allegations. But what happened last Friday on CNBC’s Closing Bell is just an embarrassing example of how far a financial “news” network will go to defend the head of a huge bank just because that institution is performing well on the stock exchange. [More]

(codestr)

Chase To Pay $389 Million Over Illegal Charges For Credit-Monitoring Services

It’s not been a banner week for JPMorgan Chase, which has agreed to pay out nearly a billion dollars to close investigations related to the 2012 “London Whale” trading fiasco, and now is told it must pay out $309 million in refunds and $80 million in penalties over illegal credit card charges for ID and fraud-protection services customers never ordered. [More]

Big Banks Failing To Comply With All The Rules For National Mortgage Settlement

Big Banks Failing To Comply With All The Rules For National Mortgage Settlement

Remember that massive $25 billion settlement between the nation’s largest mortgage servicers — Bank of America, Wells Fargo, Chase, Citi, Ally — and attorneys general from around the nation? Well, it comes with a lot of rules for these institutions to follow. But the person in charge of monitoring the settlement says most of the banks are failing to comply fully. [More]

Click on the image to see how each of the surveyed banks fared in the Disclosures categories.

Consumer-Friendly Checking Account Practices Vary Wildly From Bank To Bank

Unless you’ve been hiding under a bed for the last six years, you probably know that the banking industry isn’t exactly beloved by many American consumers. As a reaction to public sentiment (and threats of regulation), a number of banks have begun phasing in some more consumer-friendly practices, but a new study shows these changes are not industry-wide and that several banks are still years behind. [More]

(TheTruthAbout)

California Sues JPMorgan Over How It Collected Credit Card Debt

If the big banks thought they were out of the clear, well, they thought wrong. This time it’s California going after JPMorgan, suing the company over claims that it used aggressive and illegal tactics to collect credit card debt from thousands of consumers. [More]

The face of a winner

Congratulations, Jamie Dimon, You’re The Sexiest CEO In America!

The last week has been great for Jamie Dimon, CEO of JPMorgan Chase, or would be if he were a regular reader of Consumerist. Last Thursday, our readers voted his company to be less terrible than Bank of America in our annual Worst Company in America tournament. Today, our readers declared him to be the official Sexiest CEO in America! [More]

Worst Company In America Round 2: Bank Of America Vs. Chase

Worst Company In America Round 2: Bank Of America Vs. Chase


It’s time for Banker Battle 2013, as these two Wall Street Warriors take a break from trading toxic securities in order to trade some deadly blows to the head. [More]

Worst Company In America Round 1: Chase Vs. Wells Fargo

Worst Company In America Round 1: Chase Vs. Wells Fargo


The tournament’s first banking battle gets Day Three of WCIA competition off with a bang! [More]

(epicharmus)

JPMorgan Chase Site Hit By Cyber Attack That Kept Some Users From Accessing Accounts

Banks are no strangers to cyber assaults on the sites customers use to access accounts, and it appears JPMorgan Chase was the most recent victim of such an attack yesterday. The bank said last night it was working to restore normal service after an unspecified amount of down time during the day. [More]

(frankieleon)

Banks Uncover Additional Wrongful Foreclosures On Military Members

The Servicemembers Civil Relief Act (SCRA) is intended, in part, to help protect active-duty members of the armed forces from having their homes taken away by foreclosure, but as we’ve seen, this hasn’t stopped banks from ignoring the law and taking those houses anyway. Now comes a report that banks have recently uncovered hundreds of additional wrongful foreclosures on the homes of servicemembers. [More]

(eric_harvieux)

Bank Of America, Comcast Among Familiar Names In List Of Least Reputable Companies

Once again, the folks at Harris Interactive have released their Reputation Quotient Report, which rates public perception of 60 highly visible companies. Regular readers of Consumerist will not be shocked to see which companies brought up the rear this year. [More]

(Nick Bastian Tempe AZ)

Deadline For Foreclosed-Upon Homeowners To File Claim In National Mortgage Settlement Is This Friday

It took years to reach the $25 billion settlement between the nation’s largest lenders and 49 states, but affected homeowners were only given months to claim their piece of the pie. [More]

(afagen)

Chase CEO Admits That His Executives “Acted Like Children” Following Huge Loss

Remember last year when JPMorgan Chase lost billions of dollars in a matter of weeks? One might think that well-heeled, experienced executives at one of the country’s largest banks would have buckled down and faced the problem with a steel-like resolve. Apparently not. [More]

(Someone named Meg)

Data Shows Bank Of America Is Also Bad At Dealing With Credit Card Complaints

Earlier this year, the Consumer Financial Protection Bureau launched a complaint portal for people with credit card-related issues. Banks and card companies are not obliged to provide a happy ending to the complainant, but they are obliged to reply in a timely manner. And even with the bar lowered that much, Bank of America still manages to disappoint. [More]

Report: The Government Is Going To Start Busting Heads Over Money-Laundering At Big Banks

Report: The Government Is Going To Start Busting Heads Over Money-Laundering At Big Banks

If big banks weren’t at the root of so many problems, maybe we’d be starting to feel the tiniest bit bad for all the trouble they’ve been getting into lately with authorities. But yeah, we don’t feel the slightest twinge of sympathy that regulators are reportedly about to start cracking down on a few big banks for money-laundering. [More]