TD Bank Played ‘Critical’ Role in Ponzi Scheme

Scott Rothstein, the Florida lawyer convicted in a $1.2 billion investment fraud, said Toronto- Dominion Bank (TD) played a “critical” role in his Ponzi scheme, according to a transcript of a sworn deposition made public yesterday. Rothstein, sentenced to 50 years in prison, said that on a scale from one to 10, the assistance he [...]

CBSH to Return Overdraft Fees

Commerce Bancshares Inc. ( CBSH ) has hit the headlines for manipulating overdraft fees. Last week, the U.S. District Court of Southern District of Florida (Miami) ordered CBSH to pay back $18.3 million to its customers, who were charged with inappropriate overdraft fees by the company. The court has held CBSH responsible for manipulating transaction [...]

CBSH to Return Overdraft Fees

Commerce Bancshares Inc. (NasdaqGS:CBSH – News) has hit the headlines for manipulating overdraft fees. Last week, the U.S. District Court of Southern District of Florida (Miami) ordered CBSH to pay back $18.3 million to its customers, who were charged with inappropriate overdraft fees by the company. The court has held CBSH responsible for manipulating transaction [...]

Ponzi schemer alleges TD played ‘critical’ role in $1.2-billion fraud

By Susannah Nesmith Scott Rothstein, the Florida lawyer convicted in a $1.2 billion investment fraud, said Toronto- Dominion Bank (TD) played a “critical” role in his Ponzi scheme, according to a transcript of a sworn deposition made public yesterday. Rothstein, sentenced to 50 years in prison, said that on a scale from one to 10, [...]

Bank fee class expands to four more banks

Pressure on Australian banks has again increased with the announcement that four more were being named in a $200 million class action suit over late fees charged on credit cards and accounts. Law firm Maurice Blackburn, along with litigation funder IMF, say they plan to expand their bank fee case against Commonwealth Bank, National Australia [...]

Overdraft Fees on the Rise

Last Updated on Thursday, 22 December 2011 19:57 Written by Whitney Wetzel Thursday, 22 December 2011 19:24 Overdraft fees are now taking an even larger bite out of our wallets after regulations that were passed last year. Those regulations made consumers decide whether or not they wanted to allow transactions that could overdraw their accounts. [...]

First Person: I’ll Never Sign Up for Overdraft Protection Again

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you’d like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles. Some banks offer a service called overdraft protection for their checking account customers. The explanation is pretty simple: if a customer [...]

First Person: Why I Opened a Checking Account as a Teenager

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you’d like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles. I noticed on the news recently the story of a young man who opened a checking account, obtained a low but [...]

Presto problem taps riders and dips into their bank accounts

Adam Field works in customer service for a software company so he knows that computer-based systems can hit the odd glitch. But when the auto-reload function of his Presto card malfunctioned recently it cost him about $150 in bank charges. VINCE TALOTTA/TORONTO STAR The last thing anybody needs at the holidays is a surprise hole [...]

Cumbrian son plundered his dementia sufferer mum’s savings

By Staff Reporter Last updated at 11:38, Tuesday, 20 December 2011 A man who was put in charge of his mother’s bank account after she contracted dementia splashed her cash on luxuries in expensive department stores like Harrods. But Paul Johnston’s taste of the high life was curtailed yesterday when a judge at Carlisle Crown [...]

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