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Nation’s Largest Privately-Owned Bank Must Return $28M To Credit Card Customers

The nation’s largest privately held bank sold its credit card customers on add-on programs intended to help cover their accounts when they faced unexpected hardships. However, the Consumer Financial Protection Bureau says the bank deceived customers about the reality of these and other programs and has ordered it to provide nearly $28 million in relief to hundreds of thousands of affected cardholders. [More]

Behold The Amazing Disappearing Prepaid Debit Card

Behold The Amazing Disappearing Prepaid Debit Card

It seemed like a good idea at the time. When Jim’s wife received a bonus at her job in the form of a prepaid debit card from the First National Bank of Omaha, they chose to put it away for an emergency. What they didn’t realize is that prepaid debit cards combine all of the arbitrary fees of banks with all of the general crappiness of a gift card, only worse. Much worse. By the time the couple went to use the card, the entire balance had been gobbled up by fees. Fees levied for not using the card. [More]