Category: Saving & Banking
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A bank has ten business days to decide a disputed debit card charge, or 45 days if it puts the money back in the account first, and up to 90 for point-of-sale purchases
Regulation E, the federal rule that governs debit card and other electronic transfers, puts a stopwatch on banks. Once a customer reports a disputed charge, the bank has 10 business days to determine whether an error occurred. It can stretch to 45 days only if it provisionally credits the disputed amount back into the account…
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The Treasury is not required to pay a federal check more than twelve months after the date printed on it, and the money goes back to the issuing agency
A federal check sitting in a drawer has a clock on it. Under Treasury’s own regulation, 31 CFR 240.5, the Treasury is not required to pay a check that has not been negotiated to a financial institution within 12 months after it was issued, and once that year passes the proceeds do not stay with…
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Nano Banc’s sole branch reopened as a Sunwest branch the next business day after it failed
Nano Banc had one branch, and between the closure on Friday, September 25, 2026, and the opening of business the following Monday, no customer could walk into it. On Monday, September 28, the same branch reopened under a different name: Sunwest Bank, the Utah institution that took over Nano Banc’s deposits. By the calendar that…
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A federal benefit recipient with no bank account can take a Direct Express card
A federal benefit recipient with no bank account can take a Direct Express card instead. Treasury states it plainly: the Direct Express Debit Mastercard “is a way to get your federal benefits, even if you do not have a bank account.” The card exists because federal law generally requires benefits to arrive electronically, and a…
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Direct Express charges 85 cents for each U.S. ATM withdrawal once the free ones are used
Direct Express, the prepaid card that carries Social Security, Supplemental Security Income and veterans payments for people without a bank account, charges 85 cents for each ATM withdrawal in the United States once the free withdrawals are used up. A free withdrawal is not a monthly allowance. It is earned one deposit at a time,…
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Navy Federal’s proposed settlement would cancel the disputed loans, request deletion of the credit entry and refund every payment made, with no claim form for any of it
Navy Federal Credit Union has agreed to cancel certain personal loans that members say were opened by fraudsters, to ask the credit bureaus to delete the related credit reporting, and to return every payment those members made on the loans. None of that requires a claim form. A federal court in Norfolk, Virginia has granted…
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Equifax settlement objections and opt-outs close November 27, a month before the December 28 claim deadline, with the final approval hearing set for January 22
Anyone who wants out of the Equifax credit-reporting class action, or wants to object to it, has until November 27, 2026, and the claim deadline for everyone who stays in is December 28, 2026. The settlement resolves claims that a coding problem in March and April 2022 caused Equifax to report altered credit scores to…
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Delaware mailed more than $1.2 million in unclaimed property checks to approximately 10,000 owners matched through tax returns
Delaware’s annual MONEY MATCH round went out in mid-September, and the state says it mailed more than $1.2 million in unclaimed property checks to approximately 10,000 people. The money did not come from a tax refund or a government stimulus. It was dormant property that had been sitting in the state’s custody, paired with owners…
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Student loan borrowers on autopay keep a one point rate cut through June 2028
Federal student loan borrowers who pay by automatic debit are getting a bigger rate discount than the autopay perk that existed for years, and it is scheduled to run through June 30, 2028. The reduction is one full percentage point off the interest rate, not one percent of the rate and not one percent of…
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The government now adds up to $50 a month toward a borrower’s principal when an on-time payment reduces it by less than $50
A new federal repayment plan has been quietly doing something no earlier student loan plan did: when a borrower’s monthly payment barely touches the balance, the government puts money toward the principal itself. The Department of Education says the credit reaches up to $50 a month, and it applies only to the plan’s own on-time…