Several major U.S. banks are beta-testing a new way to give you access to your mobile banking account, which could mark the beginning of the end for your password headaches, according to Toby Rush, CEO of EyeVerify, a Kansas City, Kan., technology firm.
Discover Bank will pay approximately $200 million in refunds to more than 3.5 million consumers for deceptive marketing practices that misled customers about credit card add-on products, such as payment protection, credit score tracking, identity theft protection, and wallet protection.
What's fascinating about Finovate Fall, the financial technology showcase presented in New York each year, is how the innovations it features reflect what 's newsworthy and worry-worthy among companies and consumers.
Every year Finovate Fall, the financial-technology showcase held in New York City, features a number of new and/or improved web-based services and apps intended to help consumers handle their finances, and to help companies handle their consumers.
We've often advised folks on dealing most effectively with their banks. Sometimes the answer is to just flee. But I suspect there are a number of consumers who've avoided that avenue because of the perceived hassles of setting up automated bill-paying all over again. Today at Finovate Fall, the New York-based showcase of online and mobile innovations for the financial industry, I saw what appears to be a painless solution.
Judging from the Consumer Financial Protection Bureau's amazing output in the past year, you'd think the watchdog agency had been around for years.
You might be fed up with your bank, but moving your money to a new one can be a real hassle, especially since banks put up roadblocks to get you to stay. A new report by Consumers Union, the advocacy arm of Consumer Reports, shows what banks do to make it hard to leave, and what policymakers should do to make it easier.
The bank that triggered a flurry of consternation this week over its apparently successful challenge to the 2009 Credit CARD Act offers a credit card for subprime borrowers that prompted a warning last year from Consumer Reports.
Bank of America has said that it's not planning to increase checking account fees for existing customers, and only testing checking account fees for new customers.
Bank of America is said to be working on requirements that customers with basic checking accounts pay a monthly fee unless they bank online, buy more products or maintain a certain balance, The Wall Street Journal reports today.
Backlash against bank fees, along with poor service and the like has lead to an increase in defection rates among customers of large, regional and mid-size banks, according to a new study by J.D. Power and Associates.
As part of a brand-new investigation into bank overdraft-fee practices, Consumer Financial Protection Bureau Director Richard Cordray today unveiled a prototype "penalty fee box" for bank statements, so consumers can see how much overdraft fees are costing them.
The Consumer Financial Protection Bureau today proposed new regulation to oversee credit bureaus and the largest debt collection agencies in the U.S. This would be the first time such agencies would come under federal supervision.
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