Marketplace for Thursday April 3, 2014
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Overdraft fees used to be a huge source of revenue for banks, then came the crackdown that required consumers to opt in to overdraft protection, and banks took a hit. But fees are climbing back up, and banks pulled in $32 billion in overdraft charges in 2012. We examine what has changed. Plus: ADP said this week that employers added 191,000 jobs in March. The report is a precursor to the federal figure out tomorrow, but critics have been hitting the ADP figure as something of a lagging indicator, ever since the company tweaked its formula back in 2012. We explain what sort of number this is, why people pay attention to it, and why it has some economists so riled up. Also, the owner of a Va. carpet cleaning company has sued Yelp to reveal the true identities of 7 anonymous reviewers who slammed his biz. Will Yelp disclose these names? What would it mean for online reviews going forward, and what's at stake for a service like Yelp? Then, professional track and field athletes are preparing for collective action against the sport’s governing body that could lead some athletes to boycott the U.S. national track and field championships in June. The athletes’ demands are entangling sponsors such as Nike and Brooks Running, which use the affiliations to drive sales of shoes and other running gear.
Marketplace Datebook for April 4, 2014
A study says banks pulled in $32 billion in overdraft charges in 2013 and fees are climbing.
A business owner in Virginia sues Yelp to reveal the identity of negative reviewers.
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