At a hearing in North Carolina Tuesday, intended to start the process of writing rules to govern the rapidly expanding industry, Consumer Financial Protection Board Director Richard Cordray warned about the high fees that catch many consumers by surprise.
Wells Fargo customers in six states who had free checking accounts will pay $7 a month starting in May.
The increasingly popular radio frequency identification (RFID) credit cards that allow consumers to pay by tapping may be making it easier for crooks to steal valuable information with their smartphones.
More than 100 employees and customers have had their identities stolen at Bay Area Lucky supermarkets by thieves who tampered with the credit and debit card readers in self checkout lines, according to the company.
Lucky Supermarkets has issued a warning to consumers after someone tampered with credit and debit card readers at several Bay Area Stores.
More then 266,000 San Francisco and San Mateo residents received a $25 pre-paid debit card from Pacific Gas and Electric Co. for conserving gas this past December, but some customers are still confused on whether the debit card includes extra fees.