Banking
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American Express Shutting Down Kabbage Checking Accounts
American Express has notified Kabbage Checking account holders today that their accounts will soon shut down.
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Morgan Stanley Stops Offering New Access Investing Accounts
Effective December 1, 2022, Morgan Stanley Access Investing will no longer be offering the ability to open new accounts.
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Citi Eliminates All Overdraft Fees for Banking Customers
These changes go into effect today and Citi is the now the only top five U.S. bank, based on assets, to completely eliminate overdraft fees, returned item fees, and overdraft protection fees.
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Old SoFi Money Accounts Will No Longer Earn Interest
The company has sent out an emails to SoFi Money account holders to let them know that effective June 5th, they will no longer earn interest unless they switch to SoFi Checking and Savings.
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M&T Bank Secures Fed Approval for $7.6B Merger with People’s United Bank
M&T Bank has received Federal Reserve Board approval for its $7.6 billion acquisition of People’s United Bank.
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Wells Fargo Scraps Bounced Check and Overdraft Protection Fees
Wells Fargo announced on Tuesday that it will stop charging customers fees for bouncing checks and will waive fees for customers using its overdraft protection services.
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Bank of America Will No Longer Charge Fees for Insufficient Funds
Bank of America announced today that it will eliminate charges for insufficient funds and reduce overdraft fees.
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Acorns Plans to Launch Direct Stock Investing
Acorns is now developing a new feature that will let users choose their own investments for the first time.Â
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Capital One Eliminates Overdraft Fees for All Consumer Banking Customers
Capital One announced it will completely eliminate all overdraft fees and non-sufficient fund (NSF) fees for its consumer banking customers.
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IRS Bank Reporting Rule Not Included in $1.75 Trillion Bill
Looks like the proposed bank reporting rule was not included in the $1.75 trillion dollar budget reconciliation bill.
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Google Pulls Plug on Plex Banking Plans
The tech giant will let users open checking accounts, pay friends and manage budgets through a new version of its Google Pay app rolling out Wednesday.
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Wells Fargo Reverses Decision on Closing Personal Lines of Credits
Wells Fargo has walked back its sudden decision to discontinue personal lines of credit. The reversal comes after outcry from customers who have relied on these lines of credit for years
