Banks exist to give consumers a safe place to keep their money and they also make money using depositors’ funds to make loans and charge interest and other fees. It is the money-making aspect of banking that has consumer advocates worried, however, that those least able to afford massive fees or understand a myriad of [...]
U.S. Banks Hit by Week of Powerful Cyber Attacks
September 29, 2012 | Posted by
U.S. banks have been buffeted by more than a week of powerful cyber attacks, but the mystery surrounding their perpetrators lingers. One expert said Friday that he was suspicious of claims of responsibility purportedly made by Islamists angry at an anti-Muslim movie made in the United States, explaining that the widely-circulated Internet postings might have [...]
Mortgage Relief Program Benefits Banks More Than Homeowners
June 19, 2012 | Posted by
A new revision of a government program designed to aid struggling homeowners will also provide revenue for big banks. The program will help homeowners refinance when they owe more on their homes than their properties are actually worth. But the program could earn lenders up to $12 billion for their involvement. The new version of [...]
