The recent breach in security at the arts-and-crafts retailer Michaels Stores has come as a rude shock for the approximate 185 million US consumers who own debit cards. The thieves did not merely steal the information on the debit cards from these stores in around 20 states, but they also used it to obtain money from the bank accounts of the customers. However, this is not the first such incident …

A few regional banks as well as community banks had started offering free checking accounts in the last few months in a bid to attract customers from the major banks. However, all these efforts to win customers by offering freebies could be short lived due to the regulations and the related costs that would become a reality by the year end. Stephen Steinour, CEO, Huntington Bancshares stated in an interview …

Most consumers are surprised with the fee that they are charged on their checking accounts and getting information on checking accounts is virtually a painful exercise. Studies conducted recently show just how difficult it is to get proper information on the checking accounts. There were over 250 types of online checking accounts that were analyzed by the Pew Charitable Trusts and 10 of the major banks in the US were …

Now consumers must gear up to shell out extra fees if they don’t make a considerable sum towards direct deposits on their checking accounts every month, if they don’t maintain sufficient balance, and if they have an outstanding loan. Now, there is a boost in charges on financial stocks as the limits on debit card and credit card fees roll out. From the 24th of May Bank of America will …

The relationships that consumers have with their respective banks could be far worse than what it seemed a couple of weeks ago. Pew Health Group has recently finished a study which throws light on the relationships that consumers have with their banks with regard to their checking accounts. It goes to show that consumers have very little chance to understand the terms and conditions that is most often quite heavily …