In a new low for newspapering, Wells Fargo bought the front page of newspapers throughout the southeastern United States on Sunday. In North Carolina, both the Charlotte Observer and the Greensboro News and Record sold their dignity and their front page. The Richmond Times-Dispatch did the same.  Fifteen years ago, media critics groaned when USA Today (more…)

I hope no one forgets why the CARD Act was so explicit about rules against check-order sequencing when they hear the big banks complaining about how hard it is to make money on a retail checking account.

For years, banks settled accounts with a technique designed to stimulate more overdrafts. (more…)

1. The Mortgage Bankers Association believes that before the foreclosure crisis is over, banks will foreclose on one of every two hundred homes in the United States.
2. Every month, more than 80,000 new families see their homes enter into foreclosure.
3. One child in every classroom in the United States is at risk of losing his or her home because their parents are unable to pay their mortgage.
4. (more…)

It looks as if thousands of former I-Advance customers are getting restitution payments this week.

In July, MetaBank announced that it had agreed with the OTS to provide approximately $4.8 million in restitution payments to its former i-advance customers.

The payments are being delivered through direct deposit on to MetaBank-issued prepaid cards. (more…)

In a move that seems to contradict any analysis of public sentiment, Bank of America just rewarded two departing executives with millions of dollars in severance.

Bank of America awarded Sallie Krawcheck and Joe Price with $11 million in severance. B of A released both from their contracts. Each had just one year remaining on their (more…)