Random Acts of Kindness, Volume 2
January 24th, 2009
Last month we introduced a new program called Random Acts of Kindness. It’s PayDay One’s way of giving back to our customers.
Each month, we randomly select a few customers and forgive their loans. Our customer service employees get to make the phone calls and listen to the customer’s reaction. It’s usually a mix of surprise, [...]
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Bank overdraft fees top $37 billion in 2008
January 16th, 2009
A new study by management consulting firm Bretton Woods found that banks and credit unions collected a staggering $37 billion in non-sufficient funds and overdraft fees in 2008. This represents and increase of 97% over the past 3 years.
Furthermore, 80% of overdraft fees ae incurred by about 20% of households. These consumers paid an average of [...]
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