A few weeks back, the Minnesota Vikings sued Wells Fargo, accusing the bank of trying “photo bomb” the team’s new stadium. Wells has since fired back, calling the whole thing “far-fetched.” [More]
Bank may have exited the payday lending business this month, but that doesn’t mean their next foray into small dollar loans will be any less predatory. That’s why the National Consumer Law Center is urging banks to show leadership in developing affordable credit options for consumers. [More]
To some people, $7 per month isn’t a lot of money, but it is to Timothy. He was relieved when he learned that US Bank would be waiving the newly-imposed monthly maintenance fee on his checking account. That’s why he was surprised when his local branch called him up to discuss ways to avoid maintenance fees. The letter that said, “you’re a valued customer and we’ll be waiving your fees” apparently said no such thing. [More]
It’s probably not a banner day for some folks at US Bank, after two of the bank’s credit cards landed top (dis)honors in a roundup of worst credit cards of 2012. [More]
When a lender forecloses on a home, it becomes responsible for keeping the property safe and reasonably kept-up. But officials in Los Angeles has accused U.S. Bank of ignoring hundreds of foreclosures as they fall into disrepair and/or become taken over by squatters and street gangs. [More]
A judge in Georgia is quickly becoming an internet folk hero after he publicly slammed U.S. Bank for taking billions in government bailout money and all the while refusing mortgage modifications for homeowners in need of help. [More]
Tomorrow is Bank Transfer Day. By this date, people all across America are shutting down their accounts at large, costly, name-brand banks and transferring their funds to new bank accounts at their local credit union or community bank. Here is an excellent video made in Portland that follows along with several different people as they close their bank accounts and give their reasons for doing so. One person wants to save money, another disagrees with the bank’s foreclosure practices, a third is mad about the bailouts, and the last is a union withdrawing its funds to show solidarity with holding Wall Street accountable. [More]
Chase joins U.S. Bancorp, Citigroup, PNC, KeyCorp and other large banks that have recently moved away from the plan to charge consumers a monthly fee when they use their debit cards to make purchases, reports the Wall Street Journal. The bank recently tested the fee in both Washington and Georgia. [More]
Though New York City real estate remains at a relative premium, a new report says that banks have ignored the upkeep of thousands of seized foreclosure properties, allowing them to fall into horrid levels of disrepair. [More]
With the gears of state government ground to a halt in Minnesota, there are thousands of people left without income but who still have payments to make on their mortgages and car loans. But at least one bank has decided to give these folks the option of taking a small breather by allowing affected customers to skip one month’s payment without incurring any penalties, fees or dinging your credit score. However, interest will continue to accrue. [More]
US Bank was one of the last large banks to keep offering free checking but that will be no more after May 15. All customers will migrated over from “Free Checking” to “Easy Checking.” While it’s not certain how it might be any easier, like a US Bank truck drives to your house and picks up your deposits and gives you a free lollipop, it is certain that the checking accounts will have monthly maintenance fees. But you can avoid those fees if you sign up for the right level package and abide by certain behaviors. [More]
When you get a strongly-worded letter from your bank with big deadlines printed on it, and words like “THIS NOTICE IS REQUIRED BY LAW” and other “RECORDS REVIEW” and other ominous phrases, one might think, “Hey, this is something important I have to do.” Or maybe it’s actually just an offer for a free credit report that you can just toss. [More]
Want your credit line increased, APR lowered, or your declined credit card application approved? Begging and pleading with customer service not getting you anywhere except front row seats to your personal puddle of shame? Then give some of the “backdoor numbers” a shot. [More]
JD Power and Associates ranked American Express at the top of their 2008 Credit Card Satisfaction Study. Customers gave the company high marks in interaction, billing and payment processes, reward programs, fees and rates, and benefits and services, with the first three factors standing out in particular. Capital One and HSBC, which target revolvers with lower credit scores, received the worst marks. Oddly, Discover got second place. People must really like their two-cycle billing (see “Two-Cycle Billing And Why It’s Evil“). Full rankings inside…
Consumerist commenter doireallyneedausername forwarded us an email he got from MyGallons.com, claiming that his membership fee will be refunded because MyGallons.com cannot find a credit card processor. The email, signed by CEO Steve Verona, says that current members will get a free year of MyGallons.com when (if?) they are ever able to process transactions. Read the email inside.
After acknowledging that it did not have a contract in place to process transactions, gasoline-hedging service MyGallons.com has suspended accepting membership fees and placed the current fees in a non-interest bearing escrow account, says the BBB. Read the BBB’s findings inside.
The BBB says its concerned about gasoline-hedging company MyGallons.com and its ability to live up to the advertising claims on its website. A spokesperson for the BBB tells us that the biggest “red flag” they’ve discovered is that MyGallons claimed (in their press release) to have partnered with US Bank. However, when the BBB called US Bank to confirm this, they found out that it wasn’t true. US Bank had discussed the opportunity with MyGallons, but had declined. According to the BBB, despite the fact that they have no contractual agreements in place to process transactions, MyGallons is still signing up new customers.