So far, the WCIA Sweet 16 has been nothing but blowouts. This battle of the banks promises to be a more evenly matched tussle. [More]
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Wells Fargo & SunTrust Cancel Debit Rewards Programs
By 3.28.11
Last week, we wrote about JPMorgan Chase’s decision to get rid of rewards programs for debit card users in response to a new law that will slash the amount of money banks receive per debit card transaction. Now comes news that at least two other banks — Wells Fargo and SunTrust — have followed suit. [More]
Meet Your Worst Company In America Sweet 16!
By 3.25.11
After eight days and 16 first round battles, the WCIA steel cage is littered with the bones of those companies not crappy enough to continue on in the tournament. But the thrill of victory is fleeting for the remaining combatants, all of whom must square off again if they hope of crowning themselves the Worst Company In America! [More]
Chase Punishes You For Not Earning Enough Money
By 3.23.11
Since they can’t extract money from our pockets with cascading overdrafts anymore, banks have to get creative. Bradley learned that these indignities add up when the bank deems you insufficiently profitable, and charges a fee on your no-longer-free checking account. Never mind that Bradley is a college student. He doesn’t have a lot of money on hand, and from Chase’s point of view, not nibbling away at his patience and his money now could lead to another 60 years of business from him. Theoretically. [More]
Chase Killing Debit Card Rewards In July
By 3.22.11
With new regulations coming that will limit interchange fees, the amount of money banks charge retailers for debit card transactions, Chase has already begun testing $5 ATM fees and is considering putting a $50-$100 cap on debit card purchases. Now comes the news that the bank is going to pull the plug on most debit card rewards programs starting in July. [More]
Worst Company In America Round One: Wells Fargo Vs. Chase
By 3.18.11
Get ready for some more financial fisticuffs as Chase tries to avoid getting run over by the Wells Fargo wagon. [More]
Chase Tests Out $5 ATM Fees
By 3.17.11
Banks are continuing to amp up the threat of making consumers pay for the price of increased regulation. Chase is testing out charging non-customers in Illinois $5 for withdrawal fees. In Texas, they’re trying a $4 charge on for size. Consumer advocates say its a scare tactic meant to muddy up Congressional waters, but banking experts disagree. “I think customers have taken for granted the cost of banks’ infrastructure,” says Margaret Kane, president and CEO of Kane Bank Services told ABC News. “ATMs are very expensive to install and maintain.” [More]
JPMorgan Chase Also Considering $50 Cap On Debit Card Purchases
By 3.10.11
As we’ve previously reported, Bank of America has proposed a cap on debit card purchases. And if some folks at JPMorgan Chase have their way, account holders at that bank will also be very limited on the purchases they can make with their debit cards. [More]
Documents Show Chase Doubted Madoff But Did Business With Him Anyway
By 2.3.11
Newly released documents reveal that executives at JPMorgan Chase were aware of the possible Ponzi-ness of Bernie Madoff’s investment business more than 18 months before it was revealed to be a mammoth scam. [More]
Chase Sends You New Credit Card, Then Cancels It Before It Arrives
By 2.2.11
Reader Danny writes in that he was approved for a new Chase Ink credit card, but by the time it showed up in his mailbox, it was already canceled. [More]
Chase Chokes Off Enrollment In Debit Rewards
By 1.28.11
After February 8th, Chase isn’t letting any more people into the debit rewards program. Citing shrinking margins due to recent legislation, Chase is closing off all new enrollment. [More]
Chase Overcharged Over 4,000 Military Families On Mortgages, Improperly Foreclosed On 14
By 1.19.11
Chase has admitted that it overcharged over 4,000 military families on their home mortgages, as well as wrongly foreclosed on 14 of them. Some of these are families of troops that are fighting in Afghanistan. [More]
Chase Isn't Charging You A Fee, They're Rewarding You
By 12.6.10
Reached for comment about ex-WaMu “free checking” accounts becoming new Chase “fee checking” accounts, a Chase spokesperson told Consumerist, “What we’re trying to do is reward customers for giving us more of their business, in terms of multiple accounts, or deeper business, in terms of balances or direct deposits.” I then asked him if they were also trying to get rid of less profitable customers. [More]
American Family Association Goes After Chase Over Lack Of Christmas Trees
By 12.3.10
Fresh off its apparent victory to put the “Christmas” back into Dick’s, the not at all crazy people at the American Family Association have re-focused their laser beams on JPMorgan Chase. Not because it’s a big bank who was recently sued for its alleged part in the Bernie Madoff ponzi scheme, but because they don’t want Christmas trees in the lobby. [More]
Chase Makes It Just A Little Harder To Pay Down Your Car Loan Principal
By 12.2.10
If you want to pay down the principal on your Chase car loan by adding a little extra to your payment when you pay online…well, don’t bother. Sean discovered that paying a little extra on your auto loan isn’t so simple. Any extra money you might send is considered an early payment for next month…not applied to the principal. Sneaky. [More]
My Ex Ruined My Credit And Jamie Dimion Doesn't Care
By 11.24.10
Lawrence has been in two bad relationships, first with his ex and now with Chase. He and the woman had shared expenses. He was on her credit card. They broke up but he was still on her card, which she continued to run up to $15k. Lawrence escalated his request to get taken off the card all the way up to CEO Jamie Dimion, who promised to sic one of his secretaries on it. And since this is a letter being posted on Consumerist, you can imagine how well that worked out… [More]
Chase Sends Me Updates On Bank Account I Don't Have
By 10.21.10
Consumerist reader Jesse has recently started receiving account balances and deposit info via e-mail for a bank account with Chase. This would be wonderful and helpful — if Jesse had an account with Chase. [More]
Banks Hired "Burger King Kids" To Process Mortgages
By 10.14.10
JPMorgan & Chase had a cute name, the “Burger King Kids,” for the workers with little no experience or qualifications it hired to process the reams of mortgages it plowed through at the height of the housing bubble. These walk-in hires “barely knew what a mortgage was,” writes the NYT. The newbies Citigroup and GMAC/Ally Bank outsourced the work to sometimes tossed paperwork into the garbage can. [More]
