JPMorgan Chase & Co. is one step closer to a possible settlement of a class-action lawsuit brought against a number of banks over their so-called transaction-ordering practices. “We’re pleased to have reached an agreement in principle,” said spokesman Patrick Linehan, in which the bank has agreed to pay $110 million. That would settle customer claims that JPMorgan Chase charged excessive overdraft fees by processing transactions by dollar amount from highest to lowest rather than chronologically, which increased the number of overdraft fees incurred by account holders.
To prevent a repeat of the housing debacle of 2007-2010, when some 5 million homes were lost to foreclosure, federal agencies are considering a mandate that would require borrowers to put 20% down before being OK’d for certain mortgages. A new study finds that would have dramatic — and mostly negative — short-term effects on the housing market.
Securing decent retirement income in a low-yield environment is going to be a problem for a long time. Seniors who have been eking by through temporary measures need to find a permanent solution.
The U.S. Mint circulated more quarters, dimes, nickels and pennies last year. And that’s a good thing. Coin shipments from the Mint finally increased — by 37%, which means that less people are digging around their own homes for dimes and nickels.
Treasury bond prices will likely suffer a major decline in the next few years. Here are eight high-yielding stocks that are a smarter alternative for the income part of your portfolio.
The financial industry was stunned last summer when the Federal Reserve handed down a rule that effectively halved the amount banks could charge stores every time one of their customers swiped a debit card at a checkout terminal. So why is a trade group representing retail merchants now suing the Fed for its decision?
Is the Federal Reserve going to start buying bonds again to stimulate the economy? Some 69% of economists polled in a Bloomberg News survey think so, with 36% of those tagging the first quarter of 2012 as the time for such action.
We’re in a new age of financial volatility that could last years, and it seems that nobody has the answers to get us out.
Visa and MasterCard plan to hike debit card fees (also known as interchange fees) from 8 cents to 23 cents for what are described as “small-ticket” transactions.
On a day when the U.S. Labor Department says that the economy created zero jobs in the month of August, fresh data from the Federal Reserve suggests that one key component of U.S. gross domestic product growth — the vaunted U.S. credit card consumer – has taken his and her plastic and called it a [...]
The Federal Reserve Bank of New York released a report on Monday that shows America is chipping away at its collective debt — but slowly. According to the Quarterly Report on Household Debt and Credit, overall consumer debt was down by $50 billion at the end of June. If that seems like a lot, it’s [...]
