debit cards

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The number of people who don't have bank accounts is on the rise, as many households turn to alternative ways of getting cash -- like prepaid cards, payday loans, pawnshops and check-cashing services.
 
About 8.2% of U.S. households, or nearly 10 million, lack a bank account, according to survey results released Wednesday by the Federal Deposit Insurance Corporation. That's up from 7.7%, or about 9 million households, in 2009.
Most commonly, households reported that they don't have a bank account because they don't have enough money to open and fund one, with 33% of respondents saying this is the case
http://money.cnn.com/2012/09/12/pf/fdic-bank-accounts/index.html
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Bank customers beware. A little-known, but massive, database maintained by ChexSystems could be tracking your banking behavior and determine your banking future.

ChexSystems allows banks to report the bad behaviors of customers. And, CNNMoney warns, you can be denied a checking account because your bank can find out in an instant if you've bounced too many checks, owe money on an overdrawn account or engaged in fraud.

Much attention is given to fairness and protection in the banking system, but the concern is usually for consumers.

http://www.moneynews.com/StreetTalk/ChexSystems-banking-track-account/2012/08/17/id/448932

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Gas prices continued their slow but steady march higher Tuesday, surpassing a nationwide average of $3.63 cents a gallon on the back of refinery problems in the United States and higher crude oil prices globally.
Nationwide average gasoline prices are now 30 cents higher than they were just five weeks ago. They are now at the midway mark between this year's high price of $3.94 a gallon -- hit April 5 -- and the recent low of $3.33 hit just over five weeks ago, according to AAA.
http://money.cnn.com/2012/08/07/news/economy/gas-prices/index.htm?iid=HP_LN

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Reloadable prepaid payment cards may soon have the same safeguards against fraud, hidden fees and losses that currently protect debit card users from abuses.
The federal Consumer Financial Protection Bureau (CFPB) today announced it will begin accepting public comments on potential new consumer protections for reloadable prepaid cards. It's the first step in drafting federal rules to regulate the increasingly popular cards, which allow users to load funds onto them and make online and in-store purchases just as they would with a debit card or credit card. When available funds are depleted, the cards can be reloaded again.
Consumer groups have long warned that prepaid cards are chock-full of fees and carry no mandatory protections if cards are lost, stolen or used by unauthorized parties. To make matters worse, many celebrities -- the Kardashian sisters and money adviser Suze Orman, most recently -- have lent their names to prepaid cards to lure potential buyers only to draw fire from consumer advocates.
http://www.creditcards.com/credit-card-news/prepaid_card-protections-cfpb-1282.php
http://www.youtube.com/watch?v=HQII5-VaLIE
Home Song pick Phillip Phillips
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The world will only have to wait a few more weeks to find out whether Fannie Mae and Freddie Mac will allow principal reductions on mortgages they back.
The Federal Housing Finance Agency will decide this month whether Fannie and Freddie should allow write downs on the balances of borrowers who owe more than their homes are worth, said Ed DeMarco, acting director for the agency
Fannie and Freddie have been at the center of a tug-of-war over fixing the housing market. They have long resisted calls to write down the balances on the loans in their portfolio, saying it would be too costly for taxpayers.   http://money.cnn.com/2012/04/09/news/economy/mortgages-principal-reduction/index.htm?iid=HP_LN   Â

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Wells Fargo will start charging $7 a month for checking accounts in six more states, expanding on its efforts to do away with free checking accounts altogether.
While Wells Fargo (WFC, Fortune 500) stopped offering free checking accounts to new customers in 2010, existing customers were able to hold onto their free accounts. But then last year, the bank transitioned a group of existing customers -- mainly in Western states -- to the same $7-a-month accounts that it provides new customers. And now existing customers in six more states are about to be hit with the fee.
http://money.cnn.com/2012/03/07/pf/wells-fargo-checking-fee/index.htm?iid=HP_LN
http://www.dailyfinance.com/2012/03/08/is-your-bank-killing-free-checking/

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If you think your funds are protected in the event of debit card fraud, you might be surprised to learn that in some circumstances, they really aren't.
The next time you make a payment with plastic, consider this scary statistic: More than 25 percent of data breaches in the United States involve credit and debit cards, according to the Identity Theft Resource Center. While there are laws that limit consumers' liability for fraudulent charges, there are instances where debit card users may be left footing the bill

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