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Entries in Bank Fees (1)

Tuesday
Nov012011

Maine financial institutions, in the news . . .

*Bank of America announces cancelation of debit card fees.  This was reported in the New York Times, Forbes, and USA Today.

*Bar Harbor Bankshares’ Board of Directors has announced a quarterly dividend on common stock.  According to the bank, the dividend is higher than the prior quarter, and the same quarter last year.

*On October 27, Morningstar announced its annual review of 529 college investment plans.  The annual ratings consider investment options, performance, and costs along with other measurements.  Closer to home, the Maine’s NextGen program was downgraded in the ratings from “above average” to “below average.”  According to Morningstar, the downgrade reflects “pricey investment options” and a recent fine levied on the fund administrator for insufficient supervisory procedures related to the suitability of potential enrollees.