-
Business Owners Take Aim at Interchange Fees
Posted on December 17th, 2009 No commentsSeveral Madison-area business owners met with local media to talk about the impact of credit card “interchange fees” on small business, which they say squeezes retailer and raises consumer prices. But Mike Semmann of the Wisconsin Bankers Association says benefits of accepting electronic payments come at a cost, just like any other cost of doing business. Read the Cap Times article.
-
Opinion: Card Fees Hard on Wis. Businesses
Posted on November 28th, 2009 No commentsMany Wisconsin legislators and residents have recently pondered why so many of the states businesses were closing up shop. We can suggest one thing that certainly isnt helping businesses keep the doors open and the lights on: credit card transaction fees, writes a group of several retailer trade associations in the Milwaukee Journal Sentinel.
-
New Rule for Overdraft Fees Takes Effect June 1
Posted on November 12th, 2009 No commentsBanks will have to secure their customers consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced by the Federal Reserve, the Wisconsin State Journal reported.
-
Survey: Non-Customer ATM Fees Rising
Posted on October 6th, 2009 No commentsA just-released annual survey by Bankrate.com found the average ATM fee for non-customers rose 12.6 percent this year to $2.22. The average fee that banks charge customers for using another banks ATM is $1.32, down from $1.46 in 2008. About 72 percent of banks charge customers a fee for using an ATM from a different bank, according to the Bankrate survey. Nearly all banks charge non-customers for using their ATMs. Read more in the Milwaukee Journal Sentinels Dollars & Sense blog.
-
Checking Account Fees Rising, Study Says
Posted on September 30th, 2009 No commentsThe fees associated with checking accounts have risen this year to an all-time high, according to new study Bankrate.com, the Business Times of Milwaukee reported.
-
Chase Also Modifying Overdraft Policies
Posted on September 23rd, 2009 No commentsChase is changing its overdraft policies and fees on its debit cards in the first quarter of 2010. The bank will eliminate overdrafts for debit cards unless the customer opts in to overdraft services; modify posting order to eliminate overdraft fees if a customers account is $5 or less overdrawn; and trim the maximum number of overdraft feeds per day to three from six, the Business Journal of Milwaukee reported.
-
ABA: Fewer Americans Paying Bank Fees
Posted on September 9th, 2009 No commentsAt least 82 percent of bank customers avoided overdraft fees within the past year, up 2 percent from 2008, according to a survey published by the American Bankers Association. Read more in the Milwaukee Business Journal.
-
USA Today Takes Aim at Overdraft Protection
Posted on July 9th, 2009 No commentsEven as regulators crack down on abusive mortgage and credit card practices, another type of lending threatens to mire consumers in a credit trap, writes the Oshkosh Northwestern, citing a USA Today analysis. Courtesy overdraft has often become an important revenue driver for banks at the expense of the most vulnerable consumers, the article says.