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Podcast 124: First-Time Credit Defaulters

by Flexo

Today on the Consumerism Commentary Podcast Tom Dziubek speaks with Deron Weston, Principal, U.S. Banking and Securities at Deloitte Consulting, about Deloitte’s recent survey on first-time credit defaulters. Deron explains what constitutes a “first-time defaulter” and discusses several topics relating to them such as major causes of defaulting, the bank’s overall response to the defaulters ... Continue reading this article…

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U.S. Will Sue Major Banks Over Mortgages

by Flexo

Imagine you’re shopping for a new high-definition television. You’re looking around the store for the television with the best picture from a brand you trust. You pick the one you like, not the least expensive model but not the most expensive, either. You take it home, plug it in, and all the television can display ... Continue reading this article…

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Money Magazine’s Best Banks 2011

by Flexo

In early October, I will announce the winners of the Second Annual Plutus Awards, which will include the best bank, best credit card, best brokerage, and a number of other categories. Later today, the Plutus Awards website will list the finalists. Money Magazine has already completed its survey and announced the publication’s editor’s picks for ... Continue reading this article…

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10 Tips for Avoiding Overdraft Fees

by Flexo

Bank of America is settling the overdraft fee class-action lawsuit that alleges the bank knowingly manipulated customers’ deposits and withdrawals in order to maximize the fees they would receive. Although the banks aren’t completely to blame for the proliferation of overdraft fees, policies were so much of a problem that the government and regulators needed ... Continue reading this article…

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Best 12 Month CD Rates, April 2012

by Flexo

The best 12 month CD rates may not be impressive overall today compared with historical rates. With the Federal Reserve keeping interest rates low for the near future, all types of deposits will not command the interest rates that were common before the recession. With nowhere to go but up, it may not make a ... Continue reading this article…

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Wells Fargo Testing $3 Monthly Debit Card Fee

by Flexo

Wells Fargo Bank, the primary brick-and-mortar bank I’ve been holding onto for my branch-based banking, ATM deposits, and immediate check-writing, is jumping on the debit card fee bandwagon. Chase was one of the first banks to start playing around with fees and debit card changes. Chase increased its ATM fee to $5, eliminated the short-lived ... Continue reading this article…

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ING Direct Now Offers Paper Checks

by Flexo

The internet is a-twitter with the news that ING Direct is now offering paper checks to accompany its Electric Orange “paperless checking” account. Apparently, customers have received emails from the bank confirming this long-needed enhancement, but I have not received an email yet. A box of 50 checks costs $5 through the ING Direct website. ... Continue reading this article…

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Capital One Buys HSBC Credit Card Business

by Flexo

Recently, Capital One announced they would purchase ING Direct, and from the feedback I’ve seen, most ING Direct customers are not to happy about this arrangement, primarily due to their experiences with Capital One credit cards. While I’m reserving my judgment until later because credit card operations are usually run by different management than banking ... Continue reading this article…

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