University of California professor Raphael Bostic has made history Monday as the first African-American president of one of the Federal Reserve's 12 regional banks.

Last week, Wells Fargo Bank agreed to pay $185 million in fines and refund customers some $2.5 million. Why? Mellody: It’s pretty straightforward. Some employees at Wells Fargo were caught illegally signing customers up for products – credit cards, deposit accounts, other items – that they had not requested. According to Wells Fargo, the company’s […]

Tom: This morning you join us to talk about overdraft charges. Mellody: I do, because this is a very big issue many people are confronted with every…

Tom: You join us this morning with a very interesting topic today – the unbanked. Mellody: It is an interesting subject, tom, even if it sounds…

So Beautiful

Whether it’s saving for the holidays, a major purchase or for emergencies, use this simple guide to help you capitalize on these savings and keep more money in your pocket.

Hackers have found and exploited a software flaw in Internet Explorer by attacking government agencies, defense contractors, energy companies and banks. CNNMoney has the story.  Read more:

Via HelloBeautiful: Did you know American Banks earned $32 billion dollars in overdraft fees last year?   Stop throwing your money away!   Read more…

Finance is reporting that Housing Secretary Shaun Donovan is one of the participants in the foreclosure settlement talks.  The talks are expected to produce a mortgage settlement soon.  However, some banks want immunity from criminal prosecution as part of the deal.   Read More:

The foreclosure crisis has hit blacks harder than any other group in America and it will be tough for them to regain their footing in the housing market. Blacks’ homeownership rate has plummeted nearly 6 percent to 46.2 percent since its peak in 2004. That’s more than twice that of any other racial or ethnic […]

Via – Houston’s KTRK reports this story: HOUSTON (KTRK) — The FBI Houston Bank Robbery Task Force is seeking the public’s assistance in identifying “Bad Granny,” an older female who is believed responsible for three recent robberies or attempted robberies of West Houston banks. According to the FBI, on Friday, February 19, the woman […]

President tells Wall Street execs gathered at the White House that he expects 'an extraordinary commitment' to aid the nation.

Finance, News

SOURCE: In a move that’s sure to delight debit cardholders nationwide, the Federal Reserve today imposed a new rule prohibiting banks from automatically enrolling customers in “overdraft protection” plans, CNN Money reports. These shady programs — which banks have claimed are meant to help customers — allow debit cardholders to spend money they don’t […]