Banks Are Doing Better To Protect Consumers, But Still Make $32 Billion A Year In Overdraft Fees

Banks get $32 billion a year in overdraft fees from a product used by 9 out of 10 Americans. View this image › Goodluz/Goodluz An annual study done by the Pew Charitable Trusts found that checking accounts, the most widespread banking product, now come with Read More …

JPMorgan’s Profits Decline 8% From Last Year, But Less Than Expected

Despite declines in revenues from mortgages and trading, the largest bank in the country beat out analysts’ expectations with $6 billion in profits. In his first public comments since being diagnosed with throat cancer, CEO Jamie Dimon said he was “feeling great.” View this image Read More …

Survey Finds Over 25% Of Americans And Canadians Would Like To Bank With Amazon, Apple, Or Google

And almost three quarters of young people would bank with a non-bank company if they could. View this image › Sergio Uceda / Via flic.kr For young people more than anyone else, banking is done without relationships and, ideally, without actual bank branches — more Read More …

Americans Would Rather Have Transactions Canceled Than Pay Overdraft Fees

Overdraft fees, which amount to around $32 billion a year, generate massive revenue for banks but confuse and anger many consumers. New rules mandate that consumers opt-in to overdraft programs. View this image › Chris Goldberg / Via flic.kr Despite new rules that are supposed Read More …

Citigroup’s Profits Plummet Thanks To $7 Billion Justice Department Settlement

Citi barely ekes out a second-quarter profit of $181 million, after a $3.8 billion charge to help pay its settlement over mortgage-backed securities sold before the financial crisis. View this image › Keith Bedford / Reuters Citigroup is the latest megabank to get slammed by Read More …

Americans View Banks, Real Estate Market Positively For First Time Since Recession

But they don’t like them that much, either. BF_STATIC.timequeue.push(function () { if (BF_STATIC.bf_test_mode) localStorage.setItem(‘posted_date’, 1409937531); }); BF_STATIC.timequeue.push(function () { document.getElementById(“update_posted_time_3438189”).innerHTML = “posted on ” + UI.dateFormat.get_formatted_date(1409937531); }); View this image › JPMorgan Chase Chairman and CEO Jamie Dimon. AP Photo/Richard Drew Americans do not hate Read More …