June 12, 2012

EU discuss 'limiting ATM withdrawals'

Source: Irish times

Snip< European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.


Snip< EU officials said the ideas are part of a range of contingency plans. They emphasised that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen.

Read more: http://www.irishtimes.com/newspaper/breaking/2012/0612/breaking24.html

June 10, 2012

Banks get better at hiding fees.

Snip < Overdraft fees that banks launched in recent years with little notice to consumers have not gone away despite efforts by consumer groups and regulators to end a practice that generated billions in fees from unwitting customers.



Snip < Notice of pending charges are buried in bank account consumer disclosures that average 69 pages, said Pew Health Group in a report released Friday. For consumers who complain, the banks require “binding arbitration” through industry channels, not independent regulators, a practice that Pew said discourages customers from being reimbursed.



http://www.cnbc.com//id/47742077