Bank of America pay $2.43 billion for the acquisition of Merrill Lynch

Bank of America announced it would settle its ongoing class action lawsuit that goes back to its Merrill Lynch acquisition – and it’s going to cost the bank $2.43 billion.

Credit cards have entered a new stage of competition that is very rewarding to consumers.

Credit Card RatesCredit card companies are refusing to move the needle on credit card interest rates. This week, a credit card survey revealed that the average credit card available on American shores carried a 15% interest rate, no change from previous surveys.

JPMorgan Chase is the first American bank to use MyStandards

A member-owned cooperative through which financial institutions exchange messages has added the nation's biggest bank to a new system for managing standards that govern transactions.

Standard perks in Credit cards

You can see why Citi would focus its marketing on the telegenic experiences that its Private Pass service offers. But, in common with most big-name credit card companies, it offers other perks that are probably much more valuable to most of its customers.

Reserve Bank of Australia has decided to decrease the nation’s interest rate

The Reserve Bank of Australia has decided to decrease the nation’s interest rate by 25 basis points, cutting it to 3.25%.