Debit Cards News
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Bloomberg's Erik Schatzker, Stephanie Ruhle, Sara Eisen and Scarlet Fu report on Bank of America considering adding checking account fees after last year's failed attempt to charge a $5 per month fee on debit cards. They speak on Bloomberg Television's "Inside Track." (Source: Bloomberg)
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Newt Gingrich has been castigated for referring to President Barack Obama as the “best food-stamp president in American history.” I, too, dislike the former House speaker’s inflammatory phrasing.
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Hancock Holding Co.’s Whitney Bank reached a preliminary agreement to pay $6.8 million to settle litigation claiming that it gouged customers on overdraft fees for checking accounts, court records show.
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Target Corp., the second-largest U.S. discount retailer, posted fourth-quarter earnings that exceeded some analysts’ estimates, helped by discount card initiatives and grocery sales.
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The U.S. Consumer Financial Protection Bureau is starting an inquiry into bank checking account overdraft policies and may initiate related enforcement actions during the probe, director Richard Cordray said today.
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Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.
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Visa Inc., the world’s biggest payments network, said fiscal first-quarter profit climbed 16 percent as consumers increased use of credit and debit cards.
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JPMorgan Chase & Co., the biggest U.S. bank by assets, reached a preliminary agreement to pay $110 million to settle litigation saying it gouged customers on overdraft fees for checking accounts, court records show.
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State Bank of India, the nation’s largest lender, dropped in Mumbai trading as bad loans expanded and capital buffers shrank in the third quarter.
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Stocks and the euro rose, Treasuries fell and commodities extended their longest rally of the year as Greek politicians agreed on austerity plans needed to qualify for international aid and U.S. jobless claims decreased.
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