Banking & Credit Cards
How banks, credit cards, and payment systems work. Covers products, rates, fees, regulations, and what consumers need to know to navigate the banking system.
Latest in Banking & Credit Cards
Fannie Mae’s September forecast puts the 30-year mortgage rate at an average 6.8 percent in the last quarter of 2026
Fannie Mae’s Economic and Strategic Research Group, in its housing forecast dated September 11, projects that the 30-year fixed mortgage rate will average 6.8 percent...
The SEC alleges Mississippi medical marijuana company founder Thomas Moore spent about $1.94 million of investors’ $4.94 million on personal expenses including jewelry and travel
The Securities and Exchange Commission says a Mississippi man raised about $4.94 million from roughly 20 investors for a medical marijuana grower and spent about...
Bank of America cites $20.8 billion in FBI-reported 2025 internet crime losses
Bank of America opened a new round of fraud education for small-business owners on October 6, pointing to an FBI figure: $20.8 billion in internet...
Mortgage applications fell 6 percent in the week ending September 25 as the average 30-year conforming rate rose to 7.30 percent, the MBA says
Mortgage applications fell 6 percent in the week ending September 25 as the average rate on a 30-year fixed loan with a conforming balance climbed...
The Federal Reserve meets October 27 and 28 after a September quarter-point hike, and the median official projection puts the benchmark at 4.1 percent by year end
The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point on September 16, lifting the target range to 3.75 to...
Anyone charged an unreimbursed surcharge at a non-bank ATM from October 2007 to August 2026 may file a sworn claim with no receipts until February 10, 2027
A $167.5 million settlement with Visa and Mastercard over fees charged at independent ATMs lets a claimant recover money by signing a form under penalty...
The FDIC issued a consent order against Louisiana’s First Guaranty Bank
A consent order dated August 7, 2026 binds First Guaranty Bank of Hammond, Louisiana, to a Tier 1 leverage ratio of at least 9 percent...
The Federal Reserve moved against Bank of Ontario’s parent company and the FDIC against the bank in Wisconsin, with a written agreement signed September 24 and a consent order published September 25
Two federal regulators have now placed Wisconsin’s Bank of Ontario and its parent holding company on the enforcement record, and neither document, as the regulators...
Federal replacement of SNAP benefits stolen by skimming ended in December 2024
Households whose SNAP benefits are drained by a card skimmer have no federal replacement to fall back on, because the authority that once restored stolen...
Chase’s 10% anniversary bonus on Sapphire Preferred ended October 1 for cardmembers who applied before June 15, the last day purchases could earn it
Chase ended the 10% Anniversary Bonus on the Sapphire Preferred card in two stages, and the second stage arrived on October 1, 2026. Applicants on...
Claims in the Ernst & Young and Bank of America MOVEit breach settlement close on October 8, with a flat $100 option that needs no documentation
The administrator of the Ernst & Young and Bank of America MOVEit data breach settlement says a claim form must be completed and submitted by...
FinCEN proposed barring U.S. financial institutions from moving funds involving A7 Network sub-agents tied to the ruble-backed A7A5 stablecoin, with comments due November 4
The Financial Crimes Enforcement Network published a proposed rule on October 5 that would bar covered U.S. financial institutions from transmitting funds involving the sub-agents...
Five Star Credit Union took on 15,704 members when regulators closed Jackson Area Federal Credit Union
The National Credit Union Administration announced on September 30 that Jackson Area Federal Credit Union, in Jackson, Mississippi, has closed and that Five Star Credit...
Three men drew 33 to 39 months in federal prison in a scheme built on checks stolen from Postal Service collection boxes around St. Louis
Three men were sentenced in federal court on October 1 to between 33 and 39 months in prison for a bank fraud scheme built on...
The FDIC raised how much a bank may hold in reciprocal deposits without brokered-deposit treatment from September 1, while the $250,000 limit per depositor stays put
The Federal Deposit Insurance Corporation raised the cap on how much of a bank’s reciprocal deposits may be excluded from brokered-deposit treatment through an interim...
Chase priced its new IHG Premier Select card at a $350 annual fee and says existing IHG cardholders’ fees change in 2027
Chase and IHG Hotels & Resorts set the annual fee on the new IHG One Rewards Premier Select Credit Card at $350 when it launched...
Chase stopped charging foreign transaction fees on its no-fee Freedom Flex card
Chase removed foreign transaction fees from its Chase Freedom Flex card on September 21, 2026, the day it issued a release titled “Chase Builds on...
Discover’s own online savings page now sends customers to Capital One
A request for Discover’s online savings account page, at discover.com/online-banking/savings-account/, is answered with an HTTP 302 redirect to Capital One’s online performance savings account page,...
The Direct Express benefit card charges $0.85 a withdrawal after the first free one
Treasury’s Direct Express page carries the heading “No Cost and No Fees,” while the card’s live fee table, headed Comerica Bank, lists a $0.85 charge...
Regulation CC makes a bank pay a customer’s legal costs when it breaks a funds-availability rule
Three amounts set what a funds-availability violation can cost a bank under Regulation CC: an additional award a court may set between $125 and $1,350...