Apr 18, 2022 | Banks & Credit Unions, News
Democratic State AGs Push Banks on Overdraft Fees Earlier this month, attorneys general (AGs) from more than a dozen states sent letters urging JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bancorp to eliminate overdraft fees for consumers. In the past year,...
Mar 7, 2022 | Banks & Credit Unions, News
Citi Announces Plans to Discontinue Overdraft Fees Citigroup recently became the latest bank to announce plans to eliminate overdraft fees, overdraft protection fees, and returned item fees by this summer, making it the only top five U.S. bank in assets to entirely...
Feb 11, 2022 | Banks & Credit Unions, News
More Americans Than Ever Hold Credit Cards at the End of 2021 TransUnion’s recent Q4 2021 Quarterly Credit Industry Insights Report (CIIR) report found that a record 196 million Americans held credit cards at the end of 2021, with a growing number of cards being...
Feb 9, 2022 | Banks & Credit Unions, News
Banks Closed Nearly 3,000 Branches in 2021, Jumping 38% from 2020 The trend of banks closing branches at a rapid pace continued last year with a recent S&P Global Market Intelligence report finding that banks across the U.S. closed 2,927 branches in 2021, up 38...
Jan 31, 2022 | Banks & Credit Unions, Financial Literacy, News
18% of Consumers Reported Overdrafting Account in December, Rising from 14% in August Recent polling data from Morning Consult found that nearly one in five consumers with a credit union or bank account—18 percent—reported overdrafting the account in December, up from...
Jan 28, 2022 | Banks & Credit Unions, News
Wells Fargo, Small Banks Launch Short-Term Loan Products Wells Fargo recently announced plans to offer a short-term credit product that it expects to be in the marketplace by the end of this year. The loans will provide amounts up to $500 at a flat rate that has not...
