If you don’t have a contract with AT&T prepare to pay $5 more than you would have in the past to upgrade your phone, or activate a new one on the carrier’s network. [More]
fees
CFPB Says TCF Bank Made Millions From Misleading Overdraft Practices
By 1.19.17
Fifteen months after Minnesota-based TCF Financial revealed it could face legal action from federal regulators related to alleged unfair and deceptive overdraft practices, the Consumer Financial Protection Bureau has finally taken legal action against the bank. [More]
Hotels Harm Consumers By Not Including ‘Resort Fees’ In Room Rates
By 1.5.17
Staying in a hotel comes at a price — there’s the room rate, service charges, taxes, and hotels are increasingly taking on “resort fees” to cover amenities like internet access, parking, gym, spa, and pool — even if you never use them. These fees, which can significantly increase the total cost of a room, are almost never included in the advertised price and are often minimized or omitted until it comes time to actually book your stay.
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Retailers Ask Congress To Please Not Roll Back Dodd-Frank Debit Card Reforms
By 1.4.17
Both the banking industry and conservative lawmakers are hoping that the incoming Trump administration will agree to repeal the 2010 Dodd-Frank Financial Reforms, but many in the retail world are calling on Congress to retain at least the portion of the law involving debit card transactions. [More]
Labor Group: High-Pressure Sales Goals Led T-Mobile Workers To Add Services Customers Didn’t Want
By 12.19.16
Selling consumers services they don’t need is nothing new; recent examples include Wells Fargo’s fake account fiasco and Office Depot’s computer virus scanning program. Now, a labor group has filed a complaint with federal regulators accusing wireless carrier T-Mobile of using similarly aggressive sales goals, driving employees to enroll users in services they don’t actually want or never asked for. [More]
Average ATM Fees Hit Record High For 10th Straight Year
By 10.4.16
If you were hoping that ATM fees would suddenly drop, making life better for anyone who’s ever been forced to use an out-of-network machine, well, we’ve got some bad news: according to a new survey, average ATM fees were up yet again to $4.57 per transaction, marking the 10th straight year of increases. [More]
Wells Fargo Customers Accuse Bank Of Fraud, Negligence After Employees Open Fake Accounts
By 9.19.16 — Updated: 9.30.16
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]
Does Southwest’s “Bags Fly Free” Policy Hurt On-Time Performance?
By 8.24.16
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.
[More]
Massachusetts Will Tax Uber & Lyft, Give Some Of The Money To Taxis
By 8.22.16
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]
The Hidden Rewards Miles Charge You Should Know About
By 8.17.16
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.
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Local Governments Say AT&T, Verizon Aren’t Paying 911 Fees
By 8.9.16
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]
Illinois Rakes In More License Plate Renewal Fees Than Usual After Failing To Mail Reminders
By 6.24.16
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. [More]
Even Ryanair Thinks Having 108 Separate Baggage Fees Might Be A Little Excessive
By 6.2.16
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]
Banks Making $17B A Year From Fees For Overdrafts & Insufficient Funds
By 5.24.16
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.
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Chase Customers Can No Longer Use Credit Cards As Backup Funding For Overdrafts
By 5.16.16
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]
RushCard To Pay $19M To Customers After Weeks-Long Glitch Last year
By 5.13.16
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]
Payday Loan, Check Cashing Operation Trained Employees To “Never Tell Customer The Fee”
By 5.11.16
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]
You Now Might Have To Pay Extra If You Keep Your Uber Waiting
By 4.27.16
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]
