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Bank overdrafts
No general ban on opening a current account; RBI following a graduated approach: DG Rao
There is no "blanket ban" on opening current accounts and the Reserve Bank follows a "graduated approach" based on the overall exposure of the banking system to an account, the deputy said on Friday. Governor M Rajeshwar Rao. The claim came…
Predatory Walmarts Banks Made Over 100% of Profits From Overdraft Fees
Three national partner banks of Walmart depend entirely on overdraft fees taken from low-income buyers.
First Convenience Bank, Academy Bank and Woodforest National Bank all made more than 100% of their profits in 2020 and 2019 from…
Rabobank to compensate customers who have paid too much interest
Photo: RabobankRabobank is working on a settlement for thousands of private clients who have paid too much interest on their loans, the cooperative bank said on Tuesday.The move follows several rulings by the financial services complaints…
Gate City Bank is part of what report calls overdraft fee ‘giants’, but bank says…
Aaron Klein, senior economic studies researcher for the Brookings Institution, wrote that "a few small banks have become overdraft giants" and cited Gate City Bank as one of six banks with deposits of $ 1 billion…
Modern transactional accounts: where bank meets life
My previous blog traced the rise and fall of checking accounts. This blog examines how smart banks can reuse them for the modern age as transactional accounts. It requires more than a name change - it takes an investment in technology…
Cincinnati Family Tech Pay Theory Announces Launch of Cash Acceptance Tool
CINCINNATI, July 20, 2021 / PRNewswire / - Pay Theory, a Cincinnati-based startup that provides payment solutions for school districts, daycares and families, is delighted to announce the launch of its cash payment tool for Simplify the…
Growth of ‘public banking’ will attract major private sector consumer groups
Subscribe to The Financial Brand FREE by email!State-owned and operated financial institutions are not a new concept. The oldest documented was in ancient Mesopotamia, and they existed in the early days of the United States. After…
4 ways regulators should keep up with the global digital economy
Governments must learn to regulate digital industries without stifling innovation.
Today's regulatory institutions are rooted in the 20th century and lack oversight broad enough to cope with the digital economy.…
Westpac Banking: 07/18/2021 Westpac offers interest-free cash flow option for small business clients…
July 18, 2021
Westpac today announced a new measure to support existing small business clients with their cash flow needs, though revenues have…
Prosecution says Sheriff Mike Blakely is driven by financial desperation, defense says he’s no…
ATHENS, Alabama - Friday morning's opening statements by the prosecution and defense offered two entirely different images of Limestone County Sheriff Mike Blakely.
Prosecutors described a desperate campaign by Blakely by moving…