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The article discusses the issue of check re-presentment fees and the violations of Section 5 of the FTC Act that some banks have faced as a result. The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have issued guidance to address the risks associated with these fees, including the need for transparent and timely communication of account features and the consideration of a single daily fee assessment. The Federal Reserve Board (FRB) has also expressed concerns about these fees but has not issued further guidance. The article emphasizes the lack of consistency among regulatory agencies' guidance on this issue and suggests that community banks should stay informed and reach out to their regulatory agencies for clarification. [Extracted from the article]

Bluevine, a digital banking platform, now has more than $1 billion in managed deposits by its small business banking customers. This has been largely driven by its Business Checking account, a high yield, no-fee account with a suite of built-in... [ABSTRACT FROM AUTHOR]

Santander Bank N.A. introduced its Santander Essential Checking account which features no overdraft fees. [ABSTRACT FROM AUTHOR]

Turkish businesses are preparing to switch to a system of inflation accounting, which will provide a clearer picture of their earnings. This move will affect the taxable income of companies with illiquid assets and heavy borrowing, while smaller companies relying more on equity will have a lower tax liability. Inflation accounting adjusts financial statements to reflect extreme price changes and affects the tax treatment of non-monetary assets. The implementation of this system is expected to continue through 2026, and it will have an impact on various aspects of corporate earnings, including tax payments, dividends, and valuation multiples. [Extracted from the article]

Kasasa, a company that offers free reward checking accounts through community banks and credit unions, recently concluded its Small Town Big Dreams Tour in partnership with the Dream Machine Foundation. The tour aimed to spread kindness and perform acts of kindness in various towns across the country. The tour culminated in the Best Day Ever event, where community banks and credit unions hosted local events to achieve the goal of performing 100,000 acts of kindness. The tour included partnerships with financial institutions to help individuals in need, such as providing financial assistance for home repairs and presenting a new car to a grandmother caring for her grandchildren. Additionally, the Dream Machine supported an 11-year-old cancer survivor in building her bracelet business and fulfilling her dream of visiting Hawaii. [Extracted from the article]

American Express recently unveiled its Business Checking account for all eligible small businesses in the U.S., which offers no fees, 24/7 assistance and membership points for travel and deposits, according to a press release. "Cash flow is critical for small... [ABSTRACT FROM AUTHOR]

(Bloomberg) -- Zions Bancorp slumped after the regional lender reported soaring deposit costs, as elevated interest rates force banks to pay up for customer funds. Still, the company said its outlook for net interest income over the next year is now "stable" as the benefits it gets from higher interest rates continues to offset the pressure it feels from rising deposit costs. [Extracted from the article]

(Bloomberg) -- Shares of Visa Inc. and Mastercard Inc. dropped in late trading after the Federal Reserve announced it will consider revising the cap on fees merchants must pay to banks each time consumers swipe a debit card at checkout. Visa and Mastercard have faced repeated criticism from merchants over swipe fees for both debit and credit cards. [Extracted from the article]

Experian launched its Smart Money Digital Checking Account and Debit Card, along with Experian Boost, which adds payments from bills to a user's credit profile to help them potentially boost their credit scores, according to a press release. With this... [ABSTRACT FROM AUTHOR]

"FTC would have the power to impose financial penalties on companies that don't disclose their full upfront price and secure refunds for customers who have been defrauded by companies charging hidden fees", Biden said. Biden Unveils New Action on "Junk Fees" to Counter Rising Costs (Bloomberg) -- President Joe Biden announced a new rule that would require businesses to show consumers the full price of goods and services upfront, calling it "the most comprehensive action" his administration has taken yet on hidden or confusing charges. [Extracted from the article]

Biden to Expand "Junk Fee" Crackdown With Proposed FTC Rule The proposed FTC rule would bar companies from "charging hidden and misleading fees and require them to show the full price" upfront and disclose whether any fees are refundable, according to a White House fact sheet. (Bloomberg) -- President Joe Biden will detail new efforts to eliminate so-called junk fees, including a proposed Federal Trade Commission rule that would require businesses to disclose all charges for goods and services upfront - the latest step by the administration to address rising costs for US consumers. [Extracted from the article]

Discover launched its "Especially for Everyone" brand campaign with actress Jennifer Coolidge to focus on how its benefits and products are for all consumers. The campaign will specifically focus on Discover's Cashback Debit checking account, according to a press release.... [ABSTRACT FROM AUTHOR]

The National Retail Federation welcomed the U.S. Supreme Court's recent decision to hear a lawsuit seeking to have the Federal Reserve lower its 12-year-old cap on "swipe" fees banks charge merchants to process debit card transactions. The justices accepted the... [ABSTRACT FROM AUTHOR]

The Consumer Financial Protection Bureau has been targeting overdraft and bounced-check fees, and over the past year and a half or so, 15 of the 20 largest banks have ended bounced-check fees. You may see surprise "resort fees" or "destination fees" when you check out of a hotel or at the end of booking a reservation online. The CFPB followed up by releasing guidance banning surprise overdraft fees - for overdrawing a checking account even though at the time of purchase there appeared to be sufficient funds - plus surprise depositor fees charged when you deposit someone else's bounced check. [Extracted from the article]

This article titled "Earning, saving and spending money in Canada: A guide for new immigrants" provides information and guidance for individuals who are new to Canada or planning to move there. It covers various topics such as banking, budgeting, buying, careers, debt, financial literacy, investing, pensions, real estate, retirement planning, taxes, and more. The article offers advice on how to prepare for moving to Canada, finding employment, building a good credit history, and planning for retirement. It also provides additional resources and articles for further information on personal finance topics. [Extracted from the article]

The Federal Reserve's new proposal to lower the cap on debit card fees will drive up the prices consumers pay for other services, while forcing some banks out of the market entirely. [ABSTRACT FROM AUTHOR]

In an increasingly cashless society, having a basic bank account ought to be an inalienable right. Instead, we have a system that deliberately prevents millions of Americans from making even the simplest transactions. [ABSTRACT FROM AUTHOR]

It pays to check your bank accounts Just writing to thank you for the Best of the Best issue. The son can let the bank know he lost his job, and the bank has an obligation to assist him under a financial hardship arrangement under the National Credit Code until he can get another job … and it's better than losing your home and even better for Lyn - she won't have to sell hers or lose her pension. - Olive If he is that hard up he can rent it out or sublet rooms to pay the mortgage or get another job - plenty of work if you want to work. [Extracted from the article]

This article refers to a comment made by Marshall McLuhan, which suggests that communication has become the things being communicated, the media control, and the men that manipulates it. The article uses this idea to explain how stock certificates and checks have taken on qualities apart from their meaning as signs of corporate ownership or monetary value. The article discusses the message as the medium, the extensions of man, how man can be controlled by the system and what can be done to prevent it.

Technically speaking, the checkless society is virtually feasible now; the computer hardware is capable of handling it. But enormous problems remain, particularly in planning how the system will be instituted and financed, persuading the segments of the economic community to accept it, and showing them how to take advantage of it. In this article the authors describe how each segment will be affected and venture some predictions as to how and when the checkless society will be launched. [ABSTRACT FROM AUTHOR]

Bank of America has expanded its monthly maintenance fee waiver criteria for its SafeBalance account. [ABSTRACT FROM AUTHOR]

About 66 million people receive monthly Social Security benefits. To maximize your benefits, report your income each year—and verify that your employer is doing the same. [ABSTRACT FROM AUTHOR]

According to ING Bank, its younger customers also love the fact that its savings and transaction accounts don't charge fees and also offer competitive interest rates. Technology is key for all bank customers who have embraced digital banking, with 98.9% of total transactions now made online and through apps, according to the Australian Banking Association. Bowen says 80% of ING's active customers have taken up its mobile app and 48% of customers interact through mobile app only, up from 44% in just one year. [Extracted from the article]