Word: debits
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More Harvard Square businesses have announced in the past month that they will accept Crimson Cash, a debit-based account that allows University affiliates to make purchases using their Harvard ID cards...
Crimson Cash first entered the Square in 2003, when five local businesses began accepting the debit system by student demand...
...post. But in the three months since Moynihan, 50, has taken over the reins at the nation's largest bank, he has used a mix of consumer-friendly initiatives, Washington face time and attention to detail to win over critics. Consumer advocates have applauded the bank's moves on debit cards and foreclosures. Washington officials say he is easier to work with than his predecessor Kenneth Lewis. And analysts have been impressed with Moynihan's knowledge of Bank of America's many businesses. (See pictures of the global financial crisis...
Nonetheless, for now, Moynihan seems to be making more friends than enemies. So far, his boldest moves have to do with consumers. First of all, in February, the bank stopped charging customers overdraft fees on debit-card purchases they couldn't afford. Instead, when someone doesn't have enough money in their account to cover the purchase, Bank of America simply declines the transaction...
...Angeles, is one of California's 700,000 individually insured Anthem Blue Cross customers. Since he bought his policy in 2005, he has seen his premiums rise dramatically. Just last year, his monthly rate jumped from $361 to $495, a 27% increase. Kapoor, who pays his premiums via automatic debit from his bank account, did not receive a notice about the 2009 hike and didn't realize it had happened until reviewing his bank statements several months later. This year's hike - to $665 - may be too much for him to bear. He's considering switching to a plan with...