Category: Saving & Banking
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A fifth American bank failed on Friday, and all $67 million of its deposits moved to a buyer overnight
Pennsylvania’s Department of Banking and Securities took possession of Tioga-Franklin Savings Bank in Philadelphia on Friday, August 21, and named the Federal Deposit Insurance Corporation as receiver the same day. Before the branch doors would have opened again, a second Philadelphia institution had agreed to take the entire deposit book. The bank held $67 million…
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Ten states sued to keep banks paying interest on mortgage escrow
Two OCC rules that preempt state interest-on-escrow laws took effect June 18, 2026. Ten states filed suit in Oregon federal court on August 11 asking a judge to vacate them.
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Refunds from the AT&T data throttling case are landing by Zelle for customers who never cashed the first check
The FTC is sending AT&T data throttling refunds by Zelle to people who were already sent a payment and did not cash the check or accept the PayPal transfer.
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A SAVE borrower’s 90-day clock runs from their own notice, not a national cutoff
Roughly 7.5 million people were enrolled in the SAVE repayment plan when the courts brought it to an end, and every one of them now has a deadline to choose something else. The widely circulated version of that deadline is a single date on the calendar. The Education Department’s own description is different, and the…
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Doxo will pay $2.1 million after the FTC said it posed as your biller online and added a hidden fee
Typing a utility company’s name into a search bar feels like the safest possible way to pay a bill. Federal regulators say one company built a business on the gap between that feeling and what a search result actually is. Under a proposed settlement announced this week, the online bill payment firm Doxo will pay…
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Homeowners are borrowing against their houses again, pushing home-equity balances $142 billion above their 2022 low
Home equity lines of credit spent more than a decade going out of style. They were the instrument most associated with the 2008 housing collapse, balances shrank year after year, and a generation of homeowners came to treat borrowing against the house as something you did not do. That period is over, and the reversal…
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With SAVE struck down, student-loan borrowers have 90 days to switch or pay more
Millions of student-loan borrowers who enrolled in the SAVE repayment plan are now on a clock. A federal court blocked the plan, the Education Department has begun sending notices giving borrowers 90 days to move to a different repayment plan, and interest is accruing again. Do nothing and you can be pushed into the Standard…
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The average overdraft fee is about $27, and you can turn off debit-card overdraft coverage
An overdraft fee is one of the few bank charges you can switch off in advance, and most people never do. The average fee runs about $27 a shortfall, and some banks still charge $30 to $35 — enough to turn a $5 coffee bought on an empty account into a $40 morning. A federal…
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Americans now owe $1.263 trillion on credit cards, and the average rate on cards charged interest reached 22.15%
Start with the rate on the card in your wallet rather than the number in the headline. If you carry a balance from one month to the next, the Federal Reserve puts the average rate on accounts like yours at 22.15 percent for the second quarter of 2026, up from 21.52 percent three months earlier.…
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Regulators say NewRez billed more than 4,200 homeowners for insurance they already had; it will pay $15.5 million
Buried in the escrow section of a mortgage statement, under the property taxes, there is a line for hazard insurance. Most months nobody reads it. But if that line has ever carried a charge for a policy you did not buy, from an insurer you never chose, in a month when your own homeowners policy…
