Banking
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Citizens Bank Buys Investors Bancorp for $3.5 Billion
Citizens Bank is acquiring Investors Bank. Both of these banks often offer bonuses for new accounts. This merger should cut those bonus opportunities in half.
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Bank of America Will Stop The Rare Perk of Offering Checks for Savings Accounts
Checks that are presented on or after Aug. 20 will be returned unpaid even if funds are available in the account, and payments processed as a check using a savings account may be rejected.
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How to File a CFPB Complaint and When You Should Do It
The Consumer Financial Protection Bureau (CFPB) is a federal government agency that collects consumer complaints about credit cards, mortgages, bank accounts, student loans, consumer loans, credit reporting, money transfers, and debt collection
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CFPB Probing Wells Fargo’s Checking Account Practices
Wells Fargo has disclosed in an SEC filing on Wednesday that it is under a new Consumer Financial Protection Bureau investigation over its handling of consumer bank accounts.
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Online Business Bank Azlo Is Shutting Down
Azlo, an online bank for small businesses, is shutting down. The news comes after its parent bank, BBVA USA, also made the decision to shut down Simple Bank. BBVA announced in November it would sell its U.S. business to PNC Financial Services Group.
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Simple Bank Is Shutting Down
Simple, an online only bank, is shutting down amid the pending sale of its parent bank, BBVA USA. Simple notified employees on Wednesday and told customers Thursday, calling the pending closure a “strategic decision.”
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Venmo Adds Cash a Check Feature For Select Customers
Venmo, a banking and peer-to-peer payment app owned by PayPal, is launching a check cashing feature for both its Android and iOS apps for some users in the US. Venmo Cash a Check will allow users to snap a photo of a check and deposit it directly into a Venmo account.
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Chase Reaches $920 Million Settlement for Trading Misconduct
JPMorgan Chase, the largest bank in the United States, agreed today to a record $920 million settlement over charges that it engaged in manipulative trades of futures tied to precious metals and Treasury bonds.
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Capital One Gets $80 Million Fine Over Last Year’s Data Breach
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled the hack.
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Chase Private Client to Lower Balance Requirement to $150K
Right now, to enjoy the benefits of being a Chase Private Client, you need to maintain an average daily balance of $250,000 or more. This can be in any combination of qualifying personal or business deposits and investments.
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Wells Fargo Launches New Cash Back Deals Program
Customers can activate these new cash back deals by accessing My Wells Fargo Deals through Wells Fargo Online® banking or the Wells Fargo Mobile® app.
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Chase Accounts Showing Incorrect Balances
Some Chase customers woke up this Sunday morning to see missing money in their accounts, or even unexpected extra money. Apparently a glitch in the system has affected checking account balances and showing incorrect information.
