Aline van Duyn, writing in the FT over the weekend, says bankers are suffering from the Lake Wobegon effect, something dreamed up by radio talk show host Garrison Keillor who reports from his fictitious Minnesota town “where all the women are strong, all the men are good-looking, and all the children are above average”.
“Well, according [...]

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It’s a well-known marketing ploy in banking – offer free checking and then hit customers with outrageous fees when they bounce a check – £40 or so in the UK for what American bankers called non-sufficient funds (NSF). Now the High Court has ruled the fees come under laws on fairness of contracts, governed by the  [...]

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