Cards & Payments News Digests

US/Mexico: Wall Street lenders pursue radical changes as battle for retail custom shifts gear Bank of America has decided to do away with fees levied for bad cheques , joining the recent trend in the country to deliver consumer-friendly news as Americans contend with increased inflationary pressures on their household budgets. The lending giant, bested only in the United States by JPMorgan Chase for retail bank assets, will also be cutting fees for overdrafts by 71 percent, down to $10 from $35. Bank of America, by its own estimate, has some 66 million consumer and small business clients. Rival Citigroup meanwhile has augmented its retreat strategy from retail banking markets... Read more >