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New research from the Principal Financial Well-Being Index shows that the economy is the greatest source of stress for Americans, followed by their personal finances, job and health. According to the 52 percent of retirees and 42 percent of workers, the cause of a high stress level is the economy, while according to the rest 30 percent of retirees and 34 percent of workers, personal finances is the cause of the stress. On the recent…

Are you ready for the next move in the war on consumers? Banks are preparing to institute debit card fees in response to the caps that are about to go into effect. Tomorrow marks the day when a cap on debit card fees charged merchants will go into effect. Banks stand to lose billions in fees – even though the modified rules aren’t as limiting as those originally proposed. Banks have been moving to increase…

Many of us have come to rely on debit cards. They are convenient methods of payment, working like credit cards — and accepted where credit cards are used. You can swipe your debit card quickly and easily, without worrying about paying interest; your money comes right out of your checking. And now, banks are betting on the fact that you will want to keep the convenience of debit cards. Wells Fargo is test out monthly…

Once again banks are sticking it to their customers with new fees. Commercial banks are trying everyway possible to make up for lost overdraft fee income.  One of the new tactics that banks are trying is to abolish free checking and to hit their already cash strapped customers with account service charges. Beginning July 1st customers will have to pay for everything from checks and paper statements to fees for not using their debit card…