Month: July 2022

Credit Card Fees: More than Meets the Eye

In keeping with its mandate to protect the collective wallets of U.S. consumers, the Consumer Financial Protection Bureau (CFPB) is seeking information on late fees assessed by credit card issuers. Specifically, how late fee amounts are calculated, what are issuers…

50% of Branches Closed by these 9 Banks

The United States lost more than 3,000 bank branches in the 12 month period ending March 31, 2022. But not all banks are shedding branches. In fact, nine (Big) banks were responsible for more than half of the closures. The…

What You Need to Know About Rising Interest Rates

As you know (all too well) banks raise interest rates on loans well before doing so on deposits. Because of that, we expect to see increased profits and interest margins in second quarter bank call reports. Third quarter could be…

Minority Depository Institutions

As a nation of immigrants, we thought we would take the opportunity that Independence Day offers to us to champion our nation’s Minority Depository Institutions (MDIs). The first MDI on record was Freedman’s Savings & Trust Company, Lexington, KY, which…

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