Financial Biz Cheat Sheet: Bank of America Charging Debit Card Users, Nationwide Buys Harleysville
Chubb (NYSE:CB) says its third-quarter pre-tax catastrophe losses will range between $400 million and $475 million, with the bulk of losses, around $300 million to $375 million, due to Hurricane Irene.
Hot Feature: What Are These Big Banks Saying About the Economy?
Bank of America (NYSE:BAC) customers will soon see a new $5 charge on their statements for any month in which they used a BofA debit card to make a purchase. BofA is trying to recover debit card revenue being lost due to new regulations.
Umpqua Holdings’ (NASDAQ:UMPQ) board has approved an increase in its share buyback program to 15 million shares, approximately 13% of the bank holding company.
Nationwide Insurance will buy Harleysville Group (NASDAQ:HGIC) for $60 a share, a more than 90% premium on the stock’s closing price Wednesday. Harleysville shares are up more than 85% on the news.
Discover (NYSE:DFS) is facing enforcement action from the FDIC over the credit card company’s marketing practices.