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Business News

Fed puts consent condition on banks

Nov. 13, 2009
Banks will have to secure their customers' consent before charging large overdraft fees on ATM and debit card transactions, according to a new rule announced Thursday by the Federal Reserve. The rule responds to complaints from consumer groups, members of Congress and other regulators that the...
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Fed changes overdraft rules

Fed changes overdraft rules

WASHINGTON, Nov. 12 (UPI) -- The U.S. Federal Reserve has closed the option for banks to charge overdrafts fees on two common transactions unless the consumer agrees to allow the fees.

Wal-Mart to limit debit card use

NEW YORK, Dec. 3 (UPI) -- Wal-Mart Wednesday prepared a new credit card formula, becoming the first retailer to play off Visa against MasterCard.
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President Obama awards the Presidential Medal of Freedom in Washington
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President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch