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Interest Charges

All articles tagged with #interest charges

legalfinancial1 year ago

"Letitia James Tweets Trump's Appeal of $454M NY Civil Fraud Verdict"

New York Attorney General Letitia James live-tweets the daily interest charges of over $110,000 accruing on the $464 million fraud ruling against Donald Trump and his associates, following a three-year investigation and 11-week trial. Trump's legal team has filed an appeal, but he has 30 days to post a bond to stop collections on the judgment, with James prepared to seize his assets if necessary. The judgment found Trump and others liable for inflating his net worth and assets to secure favorable financing terms over a decade.

via The Independent|
#appeal#donald-trump#fraud-ruling
personal-finance2 years ago

The Downside of Autopay: How It's Affecting Credit-Card Bill Management

The use of autopay for credit card bills has doubled in recent years, but it is costing consumers more money. While autopay can help avoid late fees, a study found that borrowers who use autopay pay off between 8% and 17% less of their monthly credit card balances compared to those who make manual payments. This leads to higher interest payments, offsetting the benefit of avoiding late fees. Additionally, autopay can pose risks if customers have insufficient funds or unenroll before their balance is paid in full. Financial advisers suggest actively managing credit card accounts and paying bills manually to stay on top of spending and avoid potential overdraft fees.

via Mint|
#autopay#credit-cards#fees
finance2 years ago

Victim of Financial Fraud Loses Thousands Due to Bank's Interest Charges

A victim of a banking scam in Toronto claims that the Bank of Montreal (BMO) is charging him interest on a line of credit that was fraudulently taken out by a con artist. After receiving a call from someone posing as the bank, the victim shared a verification code, leading to multiple unauthorized withdrawals from his account. While BMO reimbursed a small portion of the stolen funds, they are now charging the victim $200 in monthly interest for the remaining debt. The bank claims that the scam is not covered by their fraud services and denies responsibility for the loss.

via The Daily Hodl|
#bank-of-montreal#banking-scam#finance