Bank of America will discontinue Over Draft unless customers opt-in
Thursday, March 11th, 2010 at 06:45 pm
March 11th, 2010
Bank of America Corporation is to be eliminating their $35 overdraft fees on debit-card purchases.
Customers will be denied purchases that exceed the amount of money they have in their checking accounts.
The new policy will begin June 19 and in August for existing debit-card holders.
Over draft protection will be still available to customers that opt-in to the service.
If the customer wants to over draw at the ATM machines they will be notified of the Over Draft Fee while at the ATM machine.
This is a victory for consumers where in the past banks automaticall...HSBC employees misconduct leads to over 24,000 cases of Theft
Thursday, March 11th, 2010 at 05:11 pm
So far theft only involves customers banking in Switzerland and confirmed that no data had been compromised for clients with accounts elsewhere.
The theft occurred three years ago, but just last year authorities just discovered the problem.
HSBC has issued a statement apologizing to customers and has since spent massive amounts of money ($93m) to upgrade systems and improve security.
http://www.hsbc.com/1/2/home
Here is the link for HSBC, as of yet I have not seen any official notice on their newsroom section addressing this problem.
Consumers should contact the regulating compa...
