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Many providers charge complex and costly maintenance and exit fees
Even though headline, consumer and business credit indexes have increased, they remain under neutral level
Average late fee charge reduced from $32 to $8
The retail banking industry went on high alert last week as President Joe Biden highlighted a new rule on credit card late fees
Over 76% of consumers expect their finances to improve or remain unchanged over the next 12 months
Proposed rule to ban junk fees aims to remedy widespread concerns
The new rules could save consumers over $3.5 billion in fees per year
Inflation is continuing to affect how bank customers use their money, Bank of America has found
President and CEO Rob Nichols said proposed rules threaten affordable deposit account products
The associations argued the CFPB’s proposal does not go far enough
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