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Banks Loosen Overdraft Policies

Posted by: RateAPY Bank Rates News
September 25th, 2009

As Congress considers legislation to protect consumers from bank fees, two of the nation’s biggest banks are backing off from their most punitive overdraft policies. The Wall Street Journal reports Bank of America announced it would no longer charge customers overdraft fees for overdrawing their accounts by less than $10 in a day, and J.P. ... Read more »

FDIC Deposit Insurance Extension Affects CD Term Length Decisions

Posted by: RateAPY Bank Rates News
September 22nd, 2009

On May 20, 2009, the federal government opted to extend through 2013 the temporary increase in the standard maximum deposit insurance to $250,000 per depositor. Consumers wary of the stock market have turned to saving their money in bank certificates of deposit (CDs) as a way to maintain ... Read more »

Banks Say Watchdog Idea Bites

Posted by: RateAPY Bank Rates News
September 18th, 2009

Banks and other businesses are gearing up to fight President Obama’s proposed Consumer Financial Protection Agency, a watchdog that would oversee mortgages and other consumer loans and monitor compliance with consumer-protection laws. The U.S. Chamber of Commerce announced last week it’s launching a multi-million dollar campaign to derail the plan. The campaign will begin ... Read more »