Six banks named in report, charging abuse through high interest rates, other practices, and calling for program shutdowns.
Overdraft fees at the nation’s 14 largest banks have increased after two years of stagnation, according to the Consumer Federation of America.
Retreat by big banks makes way for smaller players, including regional banks and credit unions.
Which way to the exits?
A new card from Fifth Third Bank promises to make the often routine cashier question “debit or credit?” a lot more important for consumers who hold them. And it brings the bank a strategy for getting around at least some of the Durbin amendment’s interchange cap.
The dizzying pace of corporate events and NCUA rulemaking last week left many CU managers wondering where to turn for help.
New plastic from Fifth Third Bank functions as both debit and credit card and avoids Durbin cap.
One the executives whose work helped establish check imaging in the U.S. warns that more credit unions need to pick up the technology or risk a competitive disadvantage with banks.
Cincinnati-based Fifth Third Bank continues to gain visibility as an alternative to corporate credit unions, but senior bank executives also made plain that their approach to credit unions fundamentally differs from a corporate’s.
Picture a credit union universe without corporate credit unions. Not a one. ProDraft Services, a Bismark, N.D., CUSO, insists that such a world is not only possible, it may actually be better for credit unions.