In the week that Americans engage in a tradition of braving frigid temperatures to snag some of the best shopping deals of the year, a new report shows that consumer credit-card debt has increased from one year ago. The fact that stores are opening earlier in honor of Black Friday may somehow correlate with consumers’ appetite to spend.
- Any Ally Bank customer who has been eager awaiting mobile check deposit has had their wish fulfilled. The cool, new feature is now available in the latest version of Ally Bank’s mobile banking applications. Customers can also make bill payments and transfers between non-Ally accounts through the mobile apps.
- Consumers can expect to see extra safety measures when it comes to their banking. Financial institutions are beefing up their security protocols the ensure that security breaches won’t wreak havoc on customers’ accounts. Two-factor authentication is one way that banks are adding extra layers of account protection.
- Amid Hurricane Sandy’s aftermath, many big banks offered various forms of financial assistance to customers who were affected by the storm. One of the banks — Wells Fargo — is being investigated for the suspension of foreclosures in disaster areas, which may have cause more harm than relief to some customers.
- Thursday is Thanksgiving, which means that most banks will be closed as Americans enjoy their big celebratory feasts. If you have any financial errands that require a visit to a branch, it would be best to complete them earlier in the week.
- The average American is spending more on their credit cards, according to a new report by credit-reporting agency TransUnion. Compared to last year, credit-card debt increased by 4.9 percent to $4,996. With the banks starting to lend again and the upcoming holiday season, we can expect number to grow.