Category: Saving & Banking
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The FDIC’s national average savings rate slipped to 0.37 percent in September
Savings accounts across the American banking system paid a little less on average in September than in the month before. The Federal Deposit Insurance Corporation’s monthly national rate for savings came in at 0.37 percent, down from 0.38 percent in August. The move is a single hundredth of a percentage point, but it ended a…
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Truist raises its out of network ATM fee to $3.50 on November 9 and caps its $36 overdraft fee at three a day on accounts that carry it
Two separate fee changes sit inside one Truist price list, and they land on different customers. The out-of-network ATM charge goes up by 50 cents on November 9, while the bank’s overdraft fee is held to three charges a day. Reading the document line by line shows that the ATM increase reaches most of the…
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Banks in Alaska, Hawaii, Puerto Rico, American Samoa, the Northern Mariana Islands, Guam and the U.S. Virgin Islands may hold an out-of-state check one extra day
Regulation CC, the Federal Reserve rule that sets how long a bank may wait before releasing deposited funds, gives branches in seven U.S. places one more business day than the standard schedule allows. The extra day is a permission rather than a requirement, and it reaches only some checks. The paragraph that grants it is…
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A bank customer has 60 days from the statement date to report a bad debit under Regulation E, and the bank then has 10 business days (20 for a new account) to decide or provisionally credit it
A debit card charge nobody authorized sets two clocks running at once, and each starts on a different day. Federal Regulation E gives the customer 60 days to report the problem, counted from the statement that shows it. It then gives the bank 10 business days to decide whether an error happened, or 20 business…
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More than 5 million federal student loan borrowers have been in default for over six years, and 5 million more went into default in under a year
Treasury and the Department of Education put two numbers side by side on September 30, 2026, and neither of them is ten million. More than 5 million borrowers have been in default on federal student loans for over six years, the departments said, and an additional 5 million entered default in less than one year.…
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Up to two months of deposited Social Security is shielded when a collector freezes an account
A bank that receives a court order to garnish an account is supposed to look back over the previous two months before it holds anything, and Social Security that arrived by direct deposit in that window is protected automatically. The protection is not a flat two months of benefits, though. Federal rules set it at…
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Congress repealed the $5 overdraft cap and the regulation text still sits in the federal rulebook
The federal rule that was meant to hold overdraft fees at the largest banks to $5 never took effect, and a copy of its text is still printed in the nation’s regulations. Congress wiped the rule out in 2025, but the section that carried it is still on the books of the Code of Federal…
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FinCEN cut the cash reporting floor to $1,000 in eight border counties
A cash exchange of $1,000 at a check casher or similar business in parts of Texas and New Mexico now triggers a federal report, a floor ten times lower than the one that normally applies. The Financial Crimes Enforcement Network, the Treasury bureau that polices illicit finance, set the lower floor in a geographic targeting…
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A California bank failed and substantially all of its $686 million in deposits moved to Sunwest Bank
Nano Banc, a one-branch bank in Irvine, California, was closed on September 25, 2026, and Sunwest Bank agreed to assume substantially all of its deposits. The bank held $686 million in deposits and $736 million in assets as of June 30, 2026. The Federal Deposit Insurance Corporation was named receiver, and its announcement says Nano…
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Congress voided the consumer bureau’s $5 overdraft cap in May 2025, so the rule never took effect
A federal cap on bank overdraft fees, built around a $5 benchmark, was finalized in the last days of 2024 and never reached a single customer statement. Congress cancelled the rule in the spring of 2025, months before its scheduled start date, using the same fast-track procedure that lawmakers have used to undo recently issued…