By Alexis Garrett Stodghill Ikenna Njoku of Auburn, WA tried to deposit a check for $8,463.21 at Chase Bank, and ended up spending five days in jail instead of getting his money. Even though the check was issued by Chase and had his correct name and address on it, the institution regarded Njoku as suspicious. […]
(New York Times) — Savers just can’t catch a break. Because of persistent low interest rates, anyone looking for decent returns that are also safe has had a tough time this year. Most of the best savings accounts, for instance, don’t even top a 1.5 percent annual yield. Sure, some people have made out nicely […]
One way to keep the bank profitable is to raise customer fees that are not exempt under the new regulations.
(CNNMoney.com) — As Congress debates the new rules of the road for the U.S. banking industry, some lawmakers have an ambitious proposal: They want to cut ATM fees. Last week, a trio of Democratic senators led by Iowa’s Tom Harkin proposed capping automated teller machine fees at just 50 cents. Read More…