A new study shows how your zip code can determine how much you pay in checking account fees. CBS News business and economics correspondent Rebecca Jarvis reports. more

Wal-Mart Stores Inc and American Express Co are teaming up to offer a prepaid debit card called Bluebird to target lower-income shoppers who may not have bank accounts. more

The possibility of automatic federal budget cuts threatens U.S. states’ well-being, even as their revenue recovers, said Manju Ganeriwala, the incoming president of the National Association of State Treasurers. more

It's hard to tell which is piling up faster — the fees bank customers have to pay these days or the research showing just how pervasive these fees are. more

A controversial bill that would create a friendlier environment for payday lenders to take up residence in Pennsylvania is vying for Senate action this fall. more

State regulatory data show that low-income borrowers who use payday loans take out an average of eight payday loans a year, which costs them about $520 annually in interest on those loans that average $375 each, according to a study released Wednesday by the Pew Charitable Trusts. more

Today's half-hearted demonstrations marking the birthday of the Occupy Wall Street movement served as a reminder that catchy slogans and funny hats do not add up to a political movement. more

The Russell family of Kirkland, Wash., makes about $230,000 with Charles Russell, 43 years old, working as a systems analyst for Microsoft Corp. According to the U.S. Census Bureau, that puts them among the top 5% of American households. But their affluence might not be apparent based on the way Mr. Russell conducts his personal finances. He has no bank account, having dumped it due to irritation over fees and overdraft penalties. Instead, for more everyday transactions he uses a debit-card offered by NetSpend Holdings Inc. 

According to a new report by the Pew Charitable Trusts, payday loan borrowers spend $7.4 billion annually at 20,000 storefront lenders and websites. But the report also concludes that the industry is fraught with risks for consumers. more

A recent analysis by the Pew Charitable Trusts concluded that “Americans raised at the top and bottom of the income ladder are likely to remain there themselves as adults.” The study found that two-thirds of Americans end up in the exact same quintile of the income distribution as their parents, or below it. more

Prepaid debit cards, which are popular with consumers who are too poor for checking accounts, are too lightly regulated and should face more restrictions, according to a study released by Pew Charitable Trusts released on Wednesday.

Bowing to pressure from consumers and Congress, major banks are simplifying the information they provide to customers about their most basic product — the checking account. Bank of America Corp. said Wednesday that it was adopting plain language disclosures that