Sep 29 Wells Fargo CEO faces lawmakers, apologizes again By Marcy Gordon, Associated Press Wells Fargo's CEO, newly stripped of tens of millions in compensation, will face lawmakers with more defenses than he had in the last round. Continue reading
Sep 08 Wells Fargo fined for creating fake accounts, other illegal practices By Kristen Doerer The Consumer Financial Protection Bureau fined Wells Fargo $100 million for illegal banking practices on Thursday. Continue reading
Jan 29 Why are millennials turning to payday loans and pawn shops? By Kristen Doerer More millennials are turning to payday loans and pawn shops for much needed cash -- moves that can provide immediate relief, but often result in deeper debt. Continue reading
Jan 12 Senate rejects Rand Paul’s ‘Audit the Fed’ legislation By Andrew Taylor, Associated Press The Senate on Tuesday blocked legislation calling for tougher audits of the Federal Reserve. Continue reading
Jan 06 Watch 8:26 Fighting the debt trap of triple-digit interest rate payday loans By PBS News Hour Payday loans are supposed to be a short-term quick fix for those who can't get traditional credit. But the loans are rarely actually short-term, and borrowers frequently need to take out a second loan to pay off the first. Special… Continue watching
Jan 06 Watch 3:34 Left behind by banks, poor Americans pay more to borrow By PBS News Hour It’s expensive to be poor. Unable to maintain a minimum balance or provide the necessary ID to open a bank account, many low-income Americans rely on fringe financial services like check cashing stores and payday lenders, which charge interest rates… Continue watching
Jan 06 Why the poor face a higher cost of banking By Lauren Feeney It’s expensive to be poor. The poor pay more for food, car insurance, even diapers. But perhaps the widest discrepancy is in the world of banking. Unable to maintain a minimum balance or provide the necessary ID… Continue reading
Jul 28 5 things to know about the controversial Export-Import Bank By Erica Werner, Associated Press The federal Export-Import Bank expired June 30 when Congress failed to renew its charter. The bank is a small federal agency that helps U.S. companies sell their products overseas, by underwriting loans to foreign customers. Conservatives oppose it as corporate… Continue reading
Jan 12 As payment forms evolve, so do ATMs By Anna Sillers Between credit cards, debit cards, Apple Pay and Venmo, the need for cash is on the decline -- and so is the ATM. And yet North American and European banks aren’t necessarily decreasing ATM production or removing the machines. Some… Continue reading
Dec 18 Watch 8:25 Is the 2015 spending bill a gift to big banks? By PBS News Hour Tucked into the new federal spending bill that passed this week was a provision to loosen banking regulations on hedges known as derivatives or swaps, rolling back part of the Dodd-Frank Act that was enacted after the financial crisis. Dennis… Continue watching