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Banking

Bank of America Talks About Sales Approach at Branch Banks

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In a recent Wall Street Journal article, Bank of America openly discussed the fact they gave out far too many credit cards and now something is going to have to be done about it to reduce continued risk to the bank. Expect to see more Bank of America credit cards closed unilaterally. But in the same article Bank of America ... Read More »

    Bounced Checks: What to Do If You Write Them … or Receive Them

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    Money’s tight, the bills are due and you’re expecting a paycheck in a few days. So you write some checks and cross your fingers that they don’t hit the bank before your deposit. Or maybe you’re flat broke and figure writing a few rubber checks can’t hurt. After all, you figure, those businesses have plenty of money and can just ... Read More »

      Debit Card & Credit Card Details Stolen at McDonald’s

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      A pair of card detail thieves have been caught in McDonald’s in Australia. Apparently the pair was getting card details from several Perth, Australia McDonald’s and managed to steal $4 million from Western Australia banks. Thousands of Western Australians have had their card details stolen at several McDonald’s restaurants across Perth since October. Police allege the 31-year-old Canadian man and ... Read More »

        Wells Fargo Bank Offering Title Loans. I Think the Ad is Misleading.

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        I saw an advertisement online just a minute ago. It surprised me. Consolidate Using Vehicle Consolidate Bills & Reduce Monthly Payments Using Your Vehicle-Apply! Now you can refinance your used car, which is not a new thing, companies have been doing this for years. But this is the first time I can remember that a major bank will refinance a ... Read More »

          Bank of America Set to Raise Balance Transfer Fees

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          Making a balance transfer to a Bank of America Card just got a lot more expensive. On Jun 1 the fee charged when you transfer a balance to a Bank of America card will go from 3% of the balance to 4%. This move is just another is ways for banks to increase income and revenue. From raising interest rates ... Read More »

            In the Netherlands, Banks Bid For Your Business

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            Instead of researching which bank offers the highest interest rate, Dutch consumers can now put their money up for auction, getting banks to bid on their savings. After registering with new online facilitator Spaarbod, consumers state how much money they’d like to put aside, for how long and on which terms. The website automatically calculates the best rates that are ... Read More »

              A Simple Guide to Understanding How the Bankers Screwed Up and Got Us in This Credit Crisis

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              My bankruptcy attorney friend sent me the link this the video below and said it was a great video to help explain the credit crisis. She was right. It is so nice to see clearly the relationship between the extremely poor decisions smart bankers made that have now trickled down to a foreclosed home near you. If you can’t see ... Read More »

                Banks, Wall Street, and Mortgage Companies Screwed Consumers And Now Want to Leave You Hanging

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                I just watched the CNBC special “House of Cards” about the inside of the mortgage industry, rating agencies and the Wall Street banks that pumped loans to consumers that they knew people could not afford. And now that we are faced with a national foreclosure crisis, the very same banks and lenders now won’t workout arrangements to allow people to ... Read More »

                  American Express Earnings Drop 80%. Oh, Boo Hoo.

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                  American Express, AMEX, reported a 79% drop in earnings in the fourth-quarter. I rounded it up to 80% because it just made me feel better. Apparently American Express customers are defaulting at a higher pace than expected and the downturn in the economy has lead to financial hardship of many card members. Could that be because they were allowed to ... Read More »

                    Citigroup to Say Goodbye to 39,500 More Workers

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                    Kerthunk! That’s the sound of the other shoe dropping on Citigroup. I thought I was ahead of the game when just last week I wrote Citibank to Fire 10,000 Workers And Raise Your Interest Rates. Well at least I got the raise your rates part right. Seems I was off by about 38,000 more Citigroup and Citibank employees that won’t ... Read More »

                      Citibank to Fire 10,000 Workers And Raise Your Interest Rates

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                      Anonymous sources in Citibank are leaking that Citibank expects to cut another 10,000 jobs, bringing the total jobs slashed this year at Citibank to 33,000. In addition, Citibank is going to announce steep increases in the credit card interest rates and I’m sure we’ll also see higher credit card fees as well. The goal will be to place more “innocent” ... Read More »

                        Next big worry: Credit cards

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                        Next big worry: Credit cards The News Journal, DE - 1 hour ago In past years, consumers looking to get out from under credit card debt tapped into home equity, refinancing mortgages to get their hands on cash to pay off ... Read More »

                          American’s Stranded in the Netherlands Because of Debt to Texas Bank

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                          The 64-year-old ship captain and his crew, whose vessel has been stranded in the Netherlands for months due to a financial obligation gone awry between his employer and a local bank. It all started July 25 when a tugboat, the Alois, based in Orange, Texas, had been towing ship hulls from Romania, said Salem, who was days from retirement. Everything ... Read More »

                            American Express to Cut 7,000 Jobs. Experience The Freedom Of Joblessness.

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                            As part of a reengineering plan, American Express plans to cut some 7,000 jobs, or about 10% of its work force, the company said Thursday morning. The company will cut staffing levels, reduce compensation, lower operating costs, and scale back its investment spending. "We've been engaged for the past few months in an intensive, companywide review of priorities and staffing levels," said Kenneth Read More »

                              UK Bank Northern Rock In Trouble But Not Sincere

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                              As a person that communicates through words, it is hard to sometimes find the right words to use to transfer what you are feeling into a medium that others will read. Words are more than letters in a group, in my head the words as I know them contain extra meaning trapped in emotions or relative experiences that make them ... Read More »

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