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Ally Bank is wiping out customers’ negative balances so they can receive their full stimulus payments — and they don’t have to repay anything

Banks are allowed to use customers’ stimulus payments to cover debts. Ally Financial said Wednesday it would forgive overdrafts – without asking for repayment – so clients can receive their whole check. The bank, like most of its peers, has also increased its payment leniency on loans. Visit Business Insider’s […]
Ally Bank is wiping out customers’ negative balances so they can receive their full stimulus payments — and they don’t have to repay anything
Markets

Depositing A Check In Your Nickname Could Slap You With A Stupid Fee

[credit provider=”Flickr / amanky ” url=”http://www.flickr.com/photos/amanky/1838331340/in/photostream/”] Recently, Ally Bank* wasn’t too pleased when a customer named Nick tried to deposit an e-check issued to him in his nickname, Cole (via/Consumerist). “They informed me that they would never accept a check written to Cole, ever,” Nick told the Consumerist, even if he […]
Depositing A Check In Your Nickname Could Slap You With A Stupid Fee
Markets

Two Reasons Not To Freak Out If Your Bank Failed The Stress Test

[credit provider=”Flickr/d3l” url=”http://www.flickr.com/photos/d3l/2915459570/sizes/z/in/photostream/”] Earlier this week, the Federal Reserve named four banking giants that failed its annual stress test.They were Citigroup, SunTrust, MetLife, and Ally–and they were none too pleased about it.
Two Reasons Not To Freak Out If Your Bank Failed The Stress Test
Markets

HUD Says Banks Impeded The Investigation Into Foreclosure Practices

[credit provider=”AP Images”] Top banks impeded a federal inquiry into their foreclosure processes, according to a report released Tuesday, dragging their feet on turning over documents and blocking investigators’ attempts to interview bank employees.The inquiry led to the wide-ranging $25 billion mortgage settlement with the five largest mortgage servicers that […]
HUD Says Banks Impeded The Investigation Into Foreclosure Practices
Markets

10 Once-Bankrupt Companies That Are Primed For A Comeback

[credit provider=”New York Public Library” url=”http://digitalgallery.nypl.org/nypldigital/index.cfm”] This post originally appeared at The Street. You thought these companies were dead. Now they’re ready to come back to life and maybe even thrive.
10 Once-Bankrupt Companies That Are Primed For A Comeback
Markets

How To Check If You’ll Get A Cut Of The $25 Billion Mortgage Settlement

[credit provider=”Flickr/greatkingrat” url=”http://www.flickr.com/photos/greatkingrat/3455906529/sizes/m/in/photostream/”] So, about that massive $25 billion mortgage settlement announced yesterday:Millions of homeowners are probably wondering if and when they’ll get a slice of that pie. The good news is yes, those checks will be coming.
How To Check If You’ll Get A Cut Of The $25 Billion Mortgage Settlement
Markets

DOJ Could Add $5 Billion And 7 Banks To A $20 Billion Mortgage Abuse Settlement

[credit provider=”Renzo Salazar / Getty”] Reuters is reporting that the Department of Justice, nearing agreement on a $20-25 billion mortgage abuse settlement with five banks, has reached out to additional banks in a move to broaden the impact of the settlement and increase its total amount.The banks the government has contacted […]
DOJ Could Add $5 Billion And 7 Banks To A $20 Billion Mortgage Abuse Settlement