Banking

10:01pm

Mon November 21, 2011
Your Money

Wal-Mart Lures Bank Customers Frustrated By Fees

Linda Black of Nashville, Tenn., says she left Bank of America after repeatedly being hit by fees. She now uses the Walmart MoneyCard instead, which has a flat fee of $3 a month.
Blake Farmer for NPR

The Occupy Wall Street movement has directed much of its anger at giant banks, which are no strangers to customer complaints. Some of those who have been burned by high fees in recent years are now satisfying their banking needs with a giant retailer instead, as Wal-Mart surges into the financial sector with a pre-paid, reloadable debit card called the MoneyCard.

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10:01pm

Tue November 15, 2011
Around the Nation

New York Town Pulls Funds From Big Bank

Originally published on Wed November 16, 2011 10:08 am

The Village of Hempstead, N.Y., sounds like a posh resort in the Hamptons. But if you ride the train an hour east from Penn Station, what you'll find is a working-class town of about 54,000 people, more than 80 percent of them African-American and Hispanic.

Nearly a third of local residents are underwater on their mortgages, six times the state average. Mayor Wayne Hall says he heard story after story from local residents who tried to get banks to refinance their loans but couldn't. Finally, Hall got fed up.

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3:54pm

Thu March 17, 2011
Business

Udall Amendment Would Increase Credit Union Lending

Creative Commons

Democratic Senator Mark Udall introduced an amendment today that he says could create as many as 100,000 jobs. The goal is to increase how much credit unions can lend in Colorado—and nationwide.

Right now credit unions can only lend about 12 percent of their total assets. But Senator Udall thinks that number should be just above 27 percent. That’s because small businesses have struggled in recent years to gain access to capital despite a $30 billion dollar infusion of cash from the federal government to banks to help increase loans.

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