Chime’s fee-free overdraft feature, SpotMe, is now available when members use the Chime Secured Credit Builder Visa Credit Card, in addition to debit card purchases and cash withdrawals. With this overdraft line of credit, members can access up to $200 in fee-free SpotMe coverage when using their...
Overdraft usage in the U.K. has increased by 7.1% since August 2021. This surge, according to a study of 20,000 ClearScore users who opted to connect their current accounts via open banking, correlates with a 6% rise in essential spend as a proportion of income....
For most American adults who rely on banks or credit unions to meet their financial needs, it may come as a surprise that 6 percent of households — nearly 8 million Americans — are considered unbanked. Sixteen percent are underbanked, or they have a bank...
U.K. challenger bank Starling Bank continues to revamp its small business lending strategy with the launch of proprietary SMB loan services, the company announced on Monday (Jan. 13). An announcement on Starling’s website revealed that the bank is introducing unsecured loans of up to £250,000...
March 25, 2024
Chime’s fee-free overdraft feature, SpotMe, is now available when members use the Chime Secured Credit Builder Visa Credit Card, in addition to debit card purchases and cash withdrawals. With this overdraft line of credit, members can access up to $200 in fee-free SpotMe coverage when using their Credit Builder card, the company said in a Thursday (March […]
November 03, 2017
Bank of America has reached a settlement in a lawsuit over extended overdraft fees, agreeing to pay consumers $66.6 million. Citing a court filing, CNBC reported news that the settlement,...
January 20, 2017
TCF National Bank is getting sued by the Consumer Financial Protection Bureau (CFPB), which contends that the bank tricked consumers into overdraft services that were very costly. In a press...
January 03, 2017
The CFPB is casting a critical eye on overdraft fees charged by banks — despite facing an uncertain future in the Trump administration. The Dodd-Frank-enabled consumer protection group has long been...
