Now that Wells Fargo has admitted bank employees opened up more than two million unauthorized accounts, it’s no surprise that customers who may have been hit with fees and charges because of these bogus accounts are firing back at the bank with a lawsuit, but they might never get their day in court. [More]
Southwest Airlines uses its “Bags Fly Free” policy of not charging passengers for their first two checked bags to set itself apart from all its competitors who have begun charging these fees in recent years. A recently released study claims this no-fee practice may actually be hurting the airline, though other data raises questions about this conclusion.
Uber or Lyft will soon be supporting their biggest rivals in the Old Bay State, thanks to a newly signed law regulating the ride-hailing industry. In all, Massachusetts will tack on a $.20/ride fee for these newer companies, with the revenue being divided up between the state, cities, and the taxi industry. [More]
It can take time — and a lot of money — to save up enough airlines rewards miles to take the trip of your dreams. But imagine amassing the miles you need for a flight to Europe only to be hit with a $700 surcharge.
In much of the country, local 911 call centers are funded from mandatory fees of around $1/line placed on phone bills. However, recently filed lawsuits allege that AT&T, Verizon and others are slashing the 911 fees they charge business customers, resulting in hundreds of millions of dollars uncollected. [More]
Some Illinois residents are a bit ticked off right now, after the state reaped $5.24 million more this year than it did in 2015 from license plate renewal fees. That’s a lot of money — were people just really distracted or forgetful this year? Not quite. An impasse on the state budget meant officials didn’t have the cash to mail reminders out to drivers.
My, how the times have changed. Ryanair, an airline that once prided itself on tacking extra costs onto fares every which way imaginable, has decided to trim up it image a bit, and is cutting down its collection of baggage fees from 108 — yes, you read that right — to just six. [More]
Overdrafting your checking account might only hit you for $35, but when that happens a few hundred million times each year, it really adds up. A new report estimates that banks in the U.S. are now making $17 billion a year from fees for overdrafts and insufficient funds.
Last year, banks made $11.16 billion from customers who overdrew their accounts with a majority of those overdraft fees going into the pockets of the three largest banks: Wells Fargo, Bank of America, and JPMorgan Chase. There could be more fees headed Chase’s way soon if customers don’t pay heed to the company’s changing overdraft policy. [More]
Last October, thousands of unbanked consumers who rely on prepaid RushCards were unable to access their funds because of a technical glitch. After toying with the idea of creating a compensation fund for those customers, RushCard announced Thursday that it will pay at least $19 million to card users affected by the weeks-long outage. [More]
All American Check Cashing collects approximately $1 million in check-cashing fees each year. But according to federal regulators, the company, which also provides payday loans, obtains those fees through deceptive means, including refusing to tell customers what they will be charged and lying to prevent consumers from backing out of transactions. [More]
Just like you might get annoyed when you have to wait too long for your Uber driver, that driver might be losing money for all the time you dawdle inside because you weren’t ready to be picked up. That’s why the service is testing a new policy that allows drivers to tack on a fee if a passenger keeps them waiting for more than two minutes. [More]
The cost of a yearly Costco membership could be going up in the near future: according to analysts at UBS, the retailer is probably going to raise prices by 10% by late this year or early 2017. [More]
Though you might think of Uber and Lyft drivers as employees of those ridesharing services, the companies maintain that drivers are independent contractors who simply use the Uber or Lyft platforms to connect with passengers. That now means that several thousand of these independent operators in San Francisco must each obtain a business license.
We used to live in a time when some of the only options for buying airfare were over the phone or in person at an airport ticket counter. Technology changed, and many airlines have added fees for those ticket-buying methods. While Delta Air Lines is now turning back the clock and will drop such fees, many of the other major players still tack on extra charges for those ticket-buying options. [More]
Each year during tax time millions of consumers put their financial future in the hands of strangers, trusting that these tax preparers — who are largely unregulated — know the rules, will get them the best possible result (hopefully a refund), and won’t sell them on a product that costs more than it’s worth. But in the world of complicated tax codes and credits, consumers continue to face a long list of risks, including untrained preparers, undisclosed fees, and dangerous refund anticipation products. [More]