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The CEO of JPMorgan Chase appeared before Congress this week, apologizing for big mistakes that translated to big losses.
JPMorgan Chase became the latest bank to settle a nationwide suit concerning the infamous “courtesy” overdraft fees. From Jonathan Stempel of Reuters: JPMorgan Chase & Co has agreed to pay $110 million to settle consumer litigation accusing it of charging excessive overdraft fees. The largest U.S. bank by assets joined Bank of America Corp and
In another victory for account holders, one more of America’s biggest banks has canceled its plans to charge for debit card use. Atlanta-based SunTrust announced that it no longer plans to charge a monthly fee for using a check card. If you’re a SunTrust checking account holder, here’s some additional good news: You can expect
The future of banking appears to be now. JPMorgan Chase announced the hiring of Susan Erlich as senior vice president of next generation payments last week. With more than a decade of experience at Citibank and Providian Financial, Erlich will be responsible for overseeing the bank’s creation of new payments services and solutions for consumers,
It’s not Pulitzer-worthy, but the new credit card agreements from some issuers deserve a little recognition. CreditCards.com reported Monday that several large issuers — including Chase, HSBC, Discover and Citi — are rewriting their card contracts in simpler, plainer English that every Joe can read and understand. The multipage contracts that consumers get when they
Chase credit cardholders behaved better than Capital One’s last month. But overall, Americans continue to treat their plastic with more respect. The “Viking” company reported Thursday that the percentage of customers who paid their credit card bills at least 30 days late ticked up to 3.43 percent last month from 3.37 percent. The rate at
In the wake of Hurricane Irene, two of America’s biggest banks are providing some short-term assistance for account holders. JPMorgan Chase and Wells Fargo both notified customers in New York, New Jersey and Connecticut via email that certain bank fees will be waived as affected areas recover from the natural disaster. The fee-free period for
