Home » Tag Archives: Dodd-Frank Wall Street Reform and Consumer Protection Act

Tag Archives: Dodd-Frank Wall Street Reform and Consumer Protection Act

‘Cramming’ on customer bills proves costly to Verizon, Sprint

wireless-bill-feature_rgb

By TED CARTER Inserting unauthorized third party charges into customer bills has cost wireless carriers Verizon and Sprint a combined $120 million in reimbursements to customers and federal and state fines of $38 million. Mississippi received $358,269.56 for its participation in the Sprint and Verizon settlements. The national mobile cramming settlements with Verizon and Sprint and last fall with AT&T ...

Read More »

Regions sets debit card fees in bid to offset revenue losses

In a soon-to-arrive consequence of the Dodd Frank Wall Street Reform and Consumer Protection Act, Regions Bank in mid-October will begin charging customers in Mississippi and elsewhere a $4 monthly fee for debit card use. The financial services sector has been predicting for the past year that Dodd Frank’s mandated cut in swipe card fees paid to a debit card’s ...

Read More »

No regrets from now profitable Cadence Bank

Relief and optimism have replaced last summer’s struggle for survival for Starkville’s Cadence National Bank. The new lease on life for the multi-state regional bank came courtesy of a nearly $150 million capital infusion from Community Bancorp LLC, a Houston, Texas, banking investment group that swooped in last October to take over Cadence after the bank had agreed to an ...

Read More »

Regulating bank subsidiaries until ordered to stop, says top bank regulator

Mississippi’s Department of Banking has returned to licensing wholly owned subsidiaries of federally chartered banks and thrifts and enforcing their compliance with state financial consumer protection laws. Banking Commissioner John Allison cites the Dodd-Frank Wall Street Reform and Consumer Protection Act as authority for restoration of enforcement powers the state ceded to the Office of the Comptroller of the Currency ...

Read More »

Dodd-Frank expected to set off new competition for customer deposits

Bankers should be prepared to raise more capital reserve money without looking for it in the places they are used to finding it. And in a first for the U.S. banking sector, bankers should prepare to pay interest on the “demand deposit” accounts held by businesses. Those are among the challenges the Dodd-Frank Wall Street Reform and Consumer Protection Act ...

Read More »