Review Mortgage Lenders

bank of america wichita ks

Wichita Kansas Bank of America Robbery

This was streamed live at www.ictchaser.com complete with audio, and interactive chat. Caught this action while streaming the snowfall we were ...

Study shows most American banks fail to offer safe, affordable checking

LAWRENCE — Across the country, affordable checking is becoming a thing of the past. Bank of America recently ended its free online checking account offer, but “main street banks” and small institutions are taking similar measures. A report co-authored by University of Kansas researchers shows that a majority of American banks are failing to offer safe and affordable checking accounts, missing industry standards and shutting some out of the financial mainstream.

Terri Friedline, assistant professor of social welfare and director of financial inclusion in the Center on Assets, Education and Inclusion in KU’s School of Social Welfare, led a study to assess whether banks are offering safe, affordable checking to all consumers. The results show that very few do, while many charge high rates and overdraft fees. The study also found that bank staff are often allowed to use discretion in whether to charge overdraft fees. The study assessed if low- to moderate-income consumers could afford checking accounts and if banks were meeting 2017-18 Bank On National Account Standards.

Dow Jones closes up 669 points

4 P.m.

The Dow Jones industrial average surged nearly 670 points, erasing nearly half the ground it lost last week and marking the biggest gain since August 2015.

The broad gains Monday were led by technology stocks and banks, which took some of the biggest losses last week as trade tensions flared between the U.S. and China.

Investors were encouraged by signs Washington and Beijing are open to negotiating on trade.

Microsoft jumped 7.6 percent and Bank of America climbed 4.4 percent.

The Dow rose 669 points, or 2.8 percent, to 24,202.

The S&P 500 climbed 70 points, or 2.7 percent, to 2,658. The Nasdaq climbed 227 points, or 3.3 percent, to 7,220.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.84 percent.

___

3:20 p.m.

Stocks are surging as the market recovers more of its huge losses from a week earlier.

Technology stocks and banks, which took some of the worst losses last week, powered higher Monday. Microsoft jumped 7 percent and Bank of America climbed 4.4 percent.