Gotta make money somewhere: After Congress took steps to reduce credit card fees, banks are now raising fees associated with checking accounts, reports USA Today. Banks such Wachovia, Bank of America and Citigroup are raising penalties for overdrawn accounts and making it more expensive for customers to transfer money to cover overdrafts. One researcher called the fees “a double whammy” coming on top of the federal bank bailout. Read the story here.
Looking up for dining out: An index that tracks the health of the U.S. restaurant industry hit its highest level in 11 months in April. That was the fourth consecutive monthly gain for the National Restaurant Association’s Restaurant Performance Index. Restaurant officials say the index improvement has been driven by an increase in expansion plans, a sign that the dining downturn may be in sight. Fifty-nine percent of restaurant operators say sales dropped from April 2008 to last month, an improvement over the 63% who reported negative sales in March compared with the year before.
