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U.S. Bank to Refund $48 Million Over Illegal Add-On Products
Sep 26

U.S. Bank to Refund $48 Million Over Illegal Add-On Products

U.S. Bank has been ordered by the Consumer Financial Protection Bureau to refund roughly $48 million to more than 420,000 customers who paid for identity theft protection and credit-monitoring services, but never received them. “We have consistently warned companies about practices related to add-on products and we will do what is necessary to prevent further

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Sep 16

First Trade Union Bank Offers Debit Card Rewards Program for Cutting Student Loan Debt

First Trade Union Bank has partnered with SmarterBucks to provide a debit card rewards program that helps customers pay down their student loan debt. “We’re proud to be the bank that provides the only debit card that earns SmarterBucks rewards to help pay down student debt and improve consumers’ financial management,” said Michael A. Butler,

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American Express Serve Raises ATM Fees and Withdrawal Limits

American Express Serve Raises ATM Fees and Withdrawal Limits

American Express Serve, the prepaid card, is making some changes to its accounts terms — one good, one bad, according to an email notice sent to cardholders. Starting October 30, 2014, Serve cardmembers will pay an out-of-network ATM withdrawal fee of $2.50, up from $2. The best way to avoid this fee is to use

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Ally Bank Launches Mobile Apps for Android Tablets, Kindle Fire
Sep 15

Ally Bank Launches Mobile Apps for Android Tablets, Kindle Fire

Ally Bank introduced native mobile banking applications designed specifically for Android and Kindle Fire tablets that allow customers to manage their accounts, perform transactions and find more information about Ally accounts and rates. “With more customers accessing their accounts via tablet, we saw an opportunity to make the Ally banking experience obviously better for tablet

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BB&T to Acquire The Bank of Kentucky for $363 Million
Sep 09

BB&T to Acquire The Bank of Kentucky for $363 Million

BB&T, the nation’s 10th largest bank by deposits, has agreed to acquire The Bank of Kentucky, based in Crestview Hill, Ky. with $1.6 billion in deposits. BB&T agreed to pay $360 million in cash and stock in the deal. “We are extremely excited to welcome our new clients and associates in these vibrant markets to

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Chase Launches Redesigned Android App
Sep 04

Chase Launches Redesigned Android App

Chase has updated its Android mobile banking application with a new look and user interface that aims to personalize and simplify the mobile banking experience. “We’re continually improving the Chase Mobile App as more and more customers connect with us through their smart phones and tablets,” said Gaven Michael, head of Digital for Consumer and

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Coin Customers Face Longer Wait Times Following Product Delay

Coin Customers Face Longer Wait Times Following Product Delay

Early adapters are dying to get their hands on Coin, but they’ll have to wait. Coin is an electronic device which looks like a credit card, stores your credit card and debit card information so you don’t have to carry them around with you. It was originally set to be released in the summer 2014,

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American Express Settles on Interest-Rate Hike Lawsuit
Aug 26

American Express Settles on Interest-Rate Hike Lawsuit

Last week, American Express entered a settlement agreement in a class action lawsuit that alleged that the card issuer increased card interest rates when cardmembers thought that their accounts had fixed rates — claiming a violation of the Truth in Lending Act. American Express agreed to pay $4 million to $6 million to settle the

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Simple Relaunches Mobile Banking Apps With New Design
Aug 19

Simple Relaunches Mobile Banking Apps With New Design

Today, Simple launched new versions of its mobile banking applications for iPhone and Android with a new look and new features. “With this release, we focused on perfecting the basics: clean design and excellent user experience,” Simple said in a blog post. The mobile apps now have an all-new design and a more intuitive user

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TD Bank Introduces Mobile Account Opening
Aug 07

TD Bank Introduces Mobile Account Opening

Forget the hassle of opening up a bank account by walking into a TD Bank branch — you can now do it conveniently on your smartphone. TD Bank recently announced the launch of their Mobile Account Opening, which will revolutionize the way people open up a personal banking account. Customers are now able to open

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