Rewards Credit Card Marketing Gets Closer Look

Credit Cards

Rewards Credit Card Marketing Gets Closer Look

Rewards Credit Card Marketing Gets Closer Look

Today, many of the nation’s largest credit card lenders are increasing the value of their various offers, including on rewards cards. However, an independent advertising body recently ruled that one may have misled consumers with regard to how valuable one such offer was. Bank of America recently rolled out its 1-2-3 Cash Rewards Credit Card,… Read More

Bank of America to Launch Mobile Payments

Personal Finance

Bank of America to Launch Mobile Payments

Bank of America to Launch Mobile Payments

The mobile payment industry has grown quite crowded in the last few years as more companies, both large and small, see the inherent value in offering independent businesses an alternative to the current transaction processing system. Bank of America is the latest such company to roll out this kind of mobile payment processing platform, the… Read More

Government Hits Bank of America With Mortgage Suit

Mortgages

Government Hits Bank of America With Mortgage Suit

Government Hits Bank of America With Mortgage Suit

Though there have been considerable efforts made to remediate many of the problems stemming from the foreclosure crisis and robo-signing controversy, one of the nation’s foremost participants has remained relatively unscathed. However, that all changed with one recent lawsuit. Countrywide, the controversial mortgage issuer that routinely pushed subprime loans for customers who were not qualified… Read More

Is BofA’s Foreclosure Review Really Independent?

Mortgages

Is BofA’s Foreclosure Review Really Independent?

Is BofA’s Foreclosure Review Really Independent?

Late last year, the country’s bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks’ flawed or illegal practices. Regulators dubbed it the “Independent Foreclosure Review” to emphasize that the banks would not be making key decisions about loans they had made or serviced…. Read More

BofA Tests Credit Card-Tied Social Couponing

Personal Finance

BofA Tests Credit Card-Tied Social Couponing

BofA Tests Credit Card-Tied Social Couponing

A new social couponing plan is being launched by the nation’s largest lender as a means of incentivizing more use of both debit and credit cards. Bank of America is currently testing a new program called BankAmeriDeals with its employees in North Carolina, South Carolina and Nevada, according to a report from The Associated Press…. Read More

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Personal Finance

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Bank of America has agreed to pay $410 million to settle a class-action lawsuit that accused the nation’s largest bank of manipulating customers’ debit card accounts to generate billions of dollars in extra overdraft fees. The bank admitted no wrongdoing, but customers who lost money to the practice will receive partial refunds. The agreement could… Read More

Surprise: “Too Big to Fail” is Bigger Than Ever

Personal Finance

Surprise: “Too Big to Fail” is Bigger Than Ever

Surprise: “Too Big to Fail” is Bigger Than Ever

Much ink has been spilled over ending “Too Big to Fail,” the phenomenon whereby a few large financial institutions have grown so large and so important to the global financial system that the American government is compelled to use taxpayer money to prop them up in times of crisis. Here’s the funny thing: Too Big… Read More

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