Author: Brian Lund
-
Regions leads big banks in overdraft revenue per account, about $30 a year
Among the 20 largest consumer banks in the country, Regions Bank collected more overdraft fee revenue per checking account than any other in 2025, about $30 a year on average. That figure comes from the same federal call-report data that regulators and consumer advocates use to track the industry, and it answers a more useful…
-
A Mississippi blues club will pay $35,000 over a co-owner accused of harassment
A Biloxi, Mississippi music venue has agreed to pay $35,000 to settle a federal lawsuit accusing one of its co-owners of sexually harassing an employee and accusing the company of firing her for reporting it. The case, brought by the Equal Employment Opportunity Commission against Ground Zero Biloxi LLC, is a reminder that federal harassment…
-
Openings covered 4.4 percent of all American jobs in July, a rate that has barely moved since spring
Beneath the raw count of 7.3 million job openings that made headlines on September 1 sits a simpler number: the job openings rate, which measures openings as a share of all jobs, filled and unfilled combined. In July, that rate was 4.4 percent, according to the Bureau of Labor Statistics, and it has stayed inside…
-
Employers hired 5.1 million people in July, let 1.7 million go, and watched 3.1 million walk out on their own
The government’s clearest monthly snapshot of hiring and firing showed a labor market still moving in both directions at a steady clip in July. Employers hired 5.1 million people, let go of 1.7 million through layoffs and discharges, and watched another 3.1 million walk out the door on their own by quitting. All three figures,…
-
Capital One, Citibank, American Express and Ally charge no overdraft fee at all
Four of the country’s biggest consumer banks charged their customers nothing at all for overdrawing an account in 2025, even as banks and credit unions nationwide collected more than $12 billion in overdraft and non-sufficient-funds fees for the year. The gap between those two facts is not an accident of size or region: it’s a…
-
The Federal Reserve lifted a two-year enforcement order on a Dallas bank and a three-year one on an online bank
Two long-running supervisory actions against banks came off the books on September 4, when the Federal Reserve Board announced it had closed them: a cease-and-desist order against United Texas Bank in Dallas that had stood since August 2024, and a written agreement tied to the holding companies of Quontic Bank, a consumer-facing online bank based…
-
The Federal Reserve told the banks it supervises to weigh lost work authorization as a repayment risk
The Federal Reserve told the banks it directly supervises, in a formal letter to its own examiners dated August 13, to treat a borrower’s lack of legal authorization to work in the United States as a factor that can raise the credit risk on a loan. The letter does not create a new rule, and…
-
A one-year Treasury bill is paying 3.93 percent while a ten-year pays 4.77
The federal government is currently paying savers almost a full percentage point more to lend it money for ten years than it is paying them to lend it money for one year. A one-year Treasury bill sold at a yield of 3.93 percent as of September 3, while a ten-year Treasury note yielded 4.77 percent…
-
The prime rate that sets credit card and home equity pricing has not moved since July, and the next chance is September 16
The interest rate that sets pricing on many variable-rate credit cards and home equity lines of credit held at 6.75 percent on every business day from August 28 through September 3, according to the Federal Reserve’s own weekly rate survey. That is the same level it has held since late July, when the Fed’s rate-setting…
-
Average hourly pay reached $37.75 in August, up 3.1 percent over the year
Average hourly pay for private-sector workers hit $37.75 in August, the Bureau of Labor Statistics reported this month, a 3.1 percent increase from a year earlier. That number comes from the same monthly jobs report that also showed payrolls up by 162,000 and the unemployment rate holding at 4.1 percent. For a household trying to…