The UK Financial Conduct Authority has confirmed its plan to protect access to cash for consumer and small businesses. To that effect, banks and building societies will need to weigh up if local communities lack access to cash services, like branches and ATMs, and plug significant gaps, under the new FCA rules.

UK FCA doubles down on cash despite digital payments trend

New York Post

A top JPMorgan Chase executive warned the bank’s 86 million customers that their currently free checking accounts may soon carry a fee, according to a report.

Marianne Lake, CEO of consumer and community banking at JPMorgan Chase, pinned blame for potentially the added burden on Washington regulators — who have pushed an $8 cap on credit-card late payment fees and a $3 cap for over-drafting bank accounts.  

The Consumer Financial Protection Bureau passed the new caps in March, but it is being appealed by a coalition of bank industry groups who sued to stop it before it could becomes law. 





Why...

JPMorgan warns customers they may have to pay for checking accounts

The Independent

 Chase Bank officials warned the company's 86 million customers that checking accounts might not be free in the future if the federal government implements regulations capping overdraft and late fees. Chase is the largest consumer bank and one of the top credit card issuers in the US. It is now looking to charge for once-free services to cover the loss of revenue from the fee caps. CEO of Consumer & Community Banking Marianne Lake told the Wall Street Journal  she believes other banks will follow suit if the regulations pass. Under the new proposal, the cost to overdraw...

Nation’s largest bank Chase threatens to charge for checking accounts if government caps fees

Banks and building societies will need to weigh up if local communities lack access to cash services, like branches and ATMs, and plug significant gaps, under new rules announced today by the Financial Conduct Authority (FCA). From 18 September, they will need to:. Assess cash access and understand if additional...

FCA Confirms Plan to Protect Access to Cash for Consumers and Small Businesses

Four major high street banks failed to comply with banking rules to keep customers informed, the competition watchdog said.Among the incorrect information given by the banks about their products or services, HSBC listed 167 closed branches as still being open.HSBC has been directed by the Competition and Markets Authority (CMA) to make changes and HSBC, Lloyds, TSB, and Allied Irish Bank (AIB) have been issued with public letters.Under the retail banking market investigation order 2017, banks and building societies are required to follow certain rules when informing customers about their products and services.This includes showing correct interest rates for loans...

Four major banks breached rules to help keep customers informed

Big banks in the US are boosting the amount of cash they’re handing to new customers as the fight for deposits intensifies for the first time in years. JPMorgan Chase and Wells Fargo in particular are battling it out to curb deposit flight triggered by the Federal Reserve’s interest rate hikes, reports the Wall Street Journal.

JPMorgan Chase and Wells Fargo Offering $300 Cash As Banks’ Battle for New Deposits Intensifies for First Time in Years: Report

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

FinanceBuzz

Take a look and see if your Best Buy sadly made the list.

Best Buy Is Closing Almost 15 Stores (Is Yours One of Them?)

The Motley Fool

Now could be a good time to say goodbye to your old bank. Read on to find out some top reasons why people make the switch.

4 Reasons to Switch Banks in July

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

With interest rates sitting at more than two-decade highs and inflation continuing to bear down on consumers, big banks are preparing to face more risks from their lending practices. Suggested Reading. Wiz backing out of the Google deal could have big implications for Microsoft, analyst says. In the second quarter,...

Banks are bracing for consumers to stop paying off their credit cards

J. Souza

After hitting the jackpot in the cruise ship's casino, one man was shocked by the prize he won. A recent TikTok video has gotten a lot of attention, showcasing a couple's unexpected windfall during a cruise vacation.

Cruise Passenger Wins Jackpot on Cruise and Gets $50k Cabin Upgrade

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Moving large amounts of money around? Read on to learn how some rules under the Bank Secrecy Act could affect you.

4 Things You Must Know if You Deposit $10K Into Your Bank Account

Minnesota State

DayTripper

The hit History Channel series "American Pickers" is gearing up for an exciting return to Minnesota this fall. The show's production team has announced plans to film episodes throughout the state in September 2024, offering locals a chance to showcase their unique collections and share their stories with a national audience.

"American Pickers" Set to Unearth Minnesota's Hidden Treasures

Virginia State

Anchorage, AK

Daily Express reports that Roger Allan Holmberg Sr., a Virginia pastor, has been accused of hitting his wife while on an Alaskan Airlines flight from Seatle to Anchorage. Holberg allegedly verbally and physically abused his wife, who said she has epilepsy, and her husband hit her in the head, knowing it could cause a seizure.

Virginia pastor facing federal charges after he allegedly hit his wife on an Alaskan Airlines flight

Demand deposit accounts include checking, savings and money market accounts. Demand deposit accounts generally let you use or withdraw money at any time. Savings and money market accounts typically pay interest, while most checking accounts don't. A demand deposit account is an account at a bank, credit union or other...

What Is a Demand Deposit Account?

West Virginia State

Norfolk, VA

Four Virginians were confirmed to be onboard when the Titanic sank on April 14, 1912. Phillip Acts and Selini Decker, who lived a few blocks apart in Norfolk, died when the ship sank. Richmond native Robert Decker and Eloise Smith, who later moved to Richmond from West Virginia, survived.

There's a reason no remains from the Virginia Titanic victims will ever be found

NewsBreak

Revolut gets UK banking license with restrictions

Revolut has finally obtained a UK banking license more than three years after Britain’s most valuable fintech firm lodged its application with regulators in its home...

Revolut gets UK banking license with restrictions

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