…with your money! From the Financial Times today: “US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000.“. Double. Has your income doubled since 2000? Has the government bailed you out? [Read more →]

New York’s Pretty Young Things Are Turning to Crime
By John Cook, 12:42 PM on Tue Jul 21 2009, 18,057 views
Robin Katz is a “sexy 25-year-old financial planner working at Chase’s Midtown headquarters,” according to the New York Post, who allegedly ripped off a client to the tune of $110,000 so she could spend it “shopping” and “going out.” [Read more →]

NEW YORK (CNN) — Banks have launched public relations campaigns to bring in customers and soothe nerves, with ads offering “peace of mind” and other promises. Citigroup, along with JPMorgan Chase, Wells Fargo and Bank of America got the biggest chunks of the bailout. [Read more →]

According to the National Consumer Law Center banks hire consultants to dream up ways (in some cases over 600 ways) to get into your pocket. And the worse off you are, the worse the tactics become.
“Banks are aggressively marketing a new form of high cost credit intended to boost their fee income at the expense of the most vulnerable consumers. [Read more →]

Of course if you’re a Chase Bank customer, you will always be on the wrong side of the deal and Chase will always be on the “right” side. After all, they defined the “deal”.

From the Chase Department of “How can we screw you better” comes this Machiavellian machination. First they offer you a great interest rate to induce you to transfer your balances to them. Next, you settle into a routine of paying off your debt [Read more →]