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If the industry works seriously with the reasonable critics of its fee practices the ones who stress disclosure it can safely ignore the rabble-rousers.
October 6
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For the vast majority of Americans, the role of the bank is to be there when the customer wants it to be there. Like the water company. Like the electric company.
October 6
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Recent breaches at Epsilon and Citibank are evidence that criminals are not just going after financial information anymore; they are increasingly profiting from stealing all kinds of customer data, especially email addresses. By accessing personally identifiable information (PII) such as email addresses or social security numbers, thieves can sell the information on the black market or move forward with highly lucrative phishing or other scams on their own. In fact, according to analyst firm Frost and Sullivan, the global black market for email addresses and national ID numbers is now worth about $5 billion.
October 5
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Several large banks are starting to charge customers a fee each month they use a debit card for purchases. The worst offender is Bank of America, which is implementing a $5 monthly fee.
October 5 -
PayPal Inc. urges its customers to "verify" their accounts by linking a checking account or credit card - a process that also makes the accounts more valuable to hackers.
October 5
Arizent -
A bug in Android smartphones made by HTC exposes users' personal data to any application that requests it.
October 4Arizent -
When the profits and losses of the debit card unit suffer as regulation clips revenues, the banks increase fees, discouraging debit card usage. Any pretense to customer focus goes out the window.
October 4 -
In hinting that the consumer bureau should look at B of A's $5 debit card fee, Obama has solidified bankers' worst fears about the CFPB.
October 4
IntraFi Network -
Word that a banking pool had returned its money to investors prompted our assistant managing editor to take a second look at the state of banking. The answers are discomforting.
October 4
American Banker -
All of the bank-bashing I've witnessed in recent months has me reflecting on one of my favorite Buffett lines. I'm talking about Jimmy, not Warren.
October 4
