Bank of America is looking for buyers for 40 branches in New York and Pennsylvania, according to Bloomberg, citing unnamed sources. The branches, located in rural location in southeastern New York and northeastern Pennsylvania, hold a total of nearly $1 billion in deposits. The sale of the branches would include the deposits, but not the
Read »Boost Mobile, the company that provides no-contract wireless services, has launched a reloadable prepaid card account that is tied to its Boost Mobile Wallet application. The account lets consumers load cash at Boost Mobile retail locations, send money, pay bills, fund prepaid wireless accounts and transfer funds. Customers also get a Visa prepaid card that
Read »Starting June 1, the United MileagePlus Explorer Card (from Chase) will no longer carry foreign transaction fees. Cardmembers won’t have to pay the extra cost to make purchases when traveling abroad. Currently, the card’s foreign transaction fee is 3%. “With the enhancement of no foreign transaction fees, we can now provide cardmembers tangible savings when
Read »Beginning May 15, American Express cardmembers can enroll for a free one-year membership with ShopRunner, which provides free two-day shipping at more than 70 retail partners, including Toys “R” Us, Sports Authority, Newegg and more. “Shipping costs can really add up when shopping online and with this new offer, our Cardmembers can benefit from the
Read »Prepaid Cards are losing the fees and attracting the traditional banking consumer. With checking and saving account fees at all time highs, consumers are turning to prepaid cards to hold their money to avoid running up a credit card bill. Read the full article here. Related: Debit Card Fees: Which Banks Are Charging Them?
Read »EverBank is offering customers an automatic investing plan for its Metal Select Unallocated Account, which lets customers invest in a pool of metals. With the new Automatic Purchase Plan, customers agree to a minimum $100 monthly transfer from a companion EverBank account to the metals account. “The Automatic Purchase Plan takes advantage of dollar cost
Read »Barclays has slashed the savings rate on its online savings account from 1.00% APY to 0.90% APY. It marks the first cut to the savings rate since Barclays launched its online bank in early 2012. Currently, the top nationwide savings rate of 1.00% APY is offered by CIT Bank, but only on account balance of
Read »A federal judge has ordered Wells Fargo to pay $203 million in a settlement of class action litigation accusing the bank of charging excessive overdraft fees on checking account customers. This is the second time U.S. District Judge William Alsup has ordered this ruling, as the 9th U.S. Circuit Court of Appeals threw out his
Read »Questions are being raised over the safety of outsourcing sensitive financial services to India after a recent security breach. Recently, a breach of security at two payment card processing companies led to heists at cash machines around the world, resulting in a $45 million loss. Many global banks ship work to be processed in India
Read »Commerce Bank, based in Kansas City, Mo. with $22.2 billion in assets, has agreed to purchase Summit Bank, based in Tulsa, Okla. with $261 million in assets, for the price of $40.6 million. “As part of our long-term commercial expansion strategy, we are pleased to partner with Summit Bank and its leadership to expand our
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