Although financial regulations have been put in place to reduce the chances of consumers getting hit with overdrafts, overdraft fees are still a major revenue source for banks. This week, one of the biggest U.S. banks is making it’s overdraft fee policy a little less consumer-friendly.
- H&R Block has issued $25 gift cards as part of an apology for its tax preparation software glitch. Hundreds of thousands of tax returns were apparently delayed. Clients should have had their returns corrected and they should have either received their refunds or expect a check in the mail.
- On Tuesday, the Federal Reserve will hold its next two-day board meeting. In its last meeting in March, the central bank did not make any major announcements to its monetary policy. Despite slight improvements in recent months, the elevated unemployment rate remains a lingering drag on the U.S. economy.
- The end of National Financial Literacy Month is coming to an end. Have you taken any steps to improve your financial situation? If not, there’s still a few days left to take action. At the very least, you should take MyBankTracker’s financial quiz to see how well you’re doing (and to brush up on your money knowledge).
- On Wednesday, the next rate change will occur for Series I savings bonds. They’re still capable of beating every 1-year CD rate on the market, only if you lock in the current six-month rate, which is available up to April 30.
- On Friday, PNC Bank will implement a new policy for overdraft charges. Currently, customers pay a $26 fee for the first overdraft in the first 12 months; the fee is $36 for every subsequent occurrence in that same time period. The new policy will impose a flat $36 fee for each and every overdraft occurrence.