In an effort to try and curb hefty bonuses, and perhaps risky behavior, in the financial sector, a group of labor unionists, journalists and academics from the U.K. have launched a high pay commission. Stephen Beard reports on their efforts.
Now that there are new rules for credit cards and overdraft fees, banks are trying to find money in other places. And as Stacey Vanek Smith reports, this means going after lower income customers, which in turn could move these customers out of the banking system altogether.
Thanks to new rules restricting banks from charging exorbitant fees on credit cards, it seems that they're making it up in other ways. Bank of America announced a new fee system based on how much money customers keep in the bank, and how much they're not costing the bank. Stacey Vanek-Smith explains.
In light of a criminal investigation into the Vatican Bank for accusations of money laundering and tax evasion, the Pope announced today that he is setting up a new watchdog to try and prevent further wrongdoings. Will the secretive Vatican Bank clean up its act? Stephen Beard reports.