A government initiative aimed at saving money by eliminating paper checks is hurting some recipients of federal benefits while earning the bank that operates the program millions in fees charged to consumers. Read more»
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The Better Business Bureau of Southern Arizona is alerting consumers that they may be seeing new fees on their bank statement for using their debit card. Read more»
Controversy over the Fed's proposed debit card regulations has largely focused on the proposed cap on interchange fees—the fees banks receive from merchants for processing debit transactions. But the interchange cap is only half of the story; some of the proposed rules could increase competition in a market dominated by Visa. Read more»
A provision within the financial reform bill that would regulate debit card transaction fees could be postponed by a year or two following fierce objections from banks. Read more»