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First Mobile-Only Bank Is Pay-As-You-Wish

First Mobile-Only Bank Is Pay-As-You-Wish

GoBank(NEW YORK) — The first bank that was designed for mobile use launched to the public this week, allowing users to pay what they want in fees.
GoBank, launched by publicly traded Green Dot Corp., has no overdraft or penalty fees. The company says …

Morgan Stanley CEO Says Banking Industry Is ‘Overpaid’

Morgan Stanley CEO Says Banking Industry Is ‘Overpaid’

Scott Eells/Bloomberg via Getty Images(NEW YORK) — Morgan Stanley CEO James Gorman has folks in the banking sector buzzing with his comments that the industry is “still overpaid.”"There’s way too much capacity and compensation is way too high,” Gorman…

Pittsburgh Ice Cream Store Owner’s Banking Business Miffs Regulators

Pittsburgh Ice Cream Store Owner’s Banking Business Miffs Regulators

Ryan McVay/Photodisc/Thinkstock(PITTSBURGH) — Ethan Clay, owner of Whalebone Cafe Bank in Pittsburgh, has offered low-cost banking services with no overdraft fees since January, but the state’s banking regulator is taking issue with his operation. Th…

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