NEW YORK—The consumer watchdog on Wednesday ramped up scrutiny of bank and credit card charges, seeking public comments about various “junk fees” consumers are charged by banks, from overdrafts to late fees. The Consumer Finance Protection Bureau (CFPB) says banks have grown reliant on overdraft fees, which contributed $15 billion of revenue in 2019, and…
As Yields Rise, Some US Banks Shift Cash to Treasuries
Some big U.S. banks are buying more U.S. government securities as yields start to rise and the Federal Reserve appears ready to taper its bond-buying program—a balance sheet shift that analysts say could boost bank earnings by several percentage points depending on how they play their hands. Bank of America Corp. and Citigroup Inc. on…
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