It’s now officially August, signaling the end of summer! Many New Yorkers are opting to pass the remaining days of warm weather waiting in line for a yummy new innovation.
In national news, the banks have been behaving badly, and it’s costing them, big-time. With the most-trusted financial institutions seemingly dropping the ball, customers are being affected, and making it known that they are piping mad.
For more details on the highlights of this past week, let’s jump into the weekly wrap:
- New MyBankTracker writer Shirley wrote about the latest fad food that has New Yorkers in a frenzy, Cronuts (check out the line pictured above!). The team dished on what we thought about the hype in this week’s Money Chat.
- We’re looking for one engaged reader to tell us about their favorite cost-efficient DIY, inspired by last week’s Money Challenge, for a chance to win a $50 AMEX giftcard!
- Yesterday JPMorgan Chase agreed to pay $410 million in a scandalous settlement. We give you the 411 as well as four other high-profile banks that have been embroiled in controversy in recent years.
- Equifax has to cough up over $18 million in punitive damages to a Portland, OR woman for giving her an erroneous credit report.
- A Vinton County, Ohio woman returned home after vacation and discovered that First National Bank had accidentally foreclosed on her house.
- AIG Bank has announced it will discontinue operations to service retail deposit accounts.
- Our new guide breaks down everything you need to know about Social Security.
- We break down how to pick a cash back credit card in our latest guide.
In our money chat this week, we discussed they hybrid croissant/donut, among other tasty treats. Some people are scalping their cronuts, with one guy even exchanging his in return for sexual favors! We want to know: