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CNNW Erin Burnett OutFront March 23, 2012

the email from a firm executive says jon corzine gave direct instructions to transfer client funds to cover and overdraft in another account. it was just three months ago when jon corzine told members of congress this anyone at mf global to misuse customer funds, never intended to, and as far as i m concerned, i never gave instructions that anybody could misconstrue. well, how damning is the e-mail we now have. represented jon ghn gotti jr. i out front now. put into another account, treasure of mf global has in an e-mail, this was per jc jon corzine s, instructions. we don t know if the monies transferred were actually client monies. we don t know even if they were client monies that corzine knew they were. because the account also contained firm funds which were, could have been transferred out properly, and apparently corzine and the firm nobody of represented in writing they weren t client funds. do you think there s room to dance around here? legal room ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120310:15:23:00

They re hitting us up with fees and should be closed down, ridiculous, the fees are disgusting and i do not like them, i do not like them. you ve made that clear, jonas, do they make sense for you. first of all, you can t blame airline fee on the government. and second of all, the prop trading in the hedge fund decisions and you said before, they cannot charge you a lot of money when you overdraft. without being able to do that, a $200 account doesn t make you, they have to charge you or lose money in the account because they cannot charge you high atm fees or overdraft fees, who lost the guy with the low balance who does not overdraft. and the guy who won, the goe who overdraft and that guy won and snowmobile, only paying $7. brenda: toby, your take, who is winning and losing? obviously, free checking was a code word for freedom of overregulation, because that s ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120222:20:47:00

Don t care which came in first, in other words they did not do it if chronological order but in terms of the biggest payments first, which seems like a deliberate effort to drain your account quicker than you thought it would happen, so that is a way to trigger the fees going into effect. and there probably are different threshholds some of the penalties. there is no standard for who gets hit with the fees. some preferred customers could have a level where they do not pay the fees so it is a mix. we have seen all the rules coming from washington, new regulations on the bang we have this mix of regulations so they are not standardized and that is what they are talking about doing. shepard: interesting what you are saying. you have $400 in the checking account. you write four checks for $10, right? the next day you write a check for $500. rather than clearing the four checks for $10 each, they clear the $500 so you are overdraft ....

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Detailed text transcripts for TV channel - FOXNEWS - 20111214:20:36:00

Fees. an illinois mother says her son s bank charged him $200 after he let the account drought to near zero. the small balance triggered a wave of fees. and she says bank officials refused to close the account until she paid the fees. gerri, you cannot let the balance get real low because then there are all kinds of charters, overdraft, and this is not new information. gerri: but it really stunned this kid. this kid, his mom wanted him to learn about money so he got a checking account. the balance fell to $4.85. right? so that triggers the positively fee because now he is below the limit you are supposed to have to have free checking and he is stung by a $9.95 monthly fee, and that makes the balance negative. and then that means you have overdraft fees. $28 a day. each and every day. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20111110:16:38:00

What this involved was financial reformulas year that took place last year, basically said if a customer is facing an overdraft, then the bank would have to notify that bank customer that they may face a fee of, maybe $35 per transaction. you just have to notify them. all bank of america wanted to do here was essentially send a text message to a customer saying look, you may be in overdraft mode. if you want to go into overdraft you will have to pay this $35 fee. with the protests against the banking system. bank transfer day, where bank transfer day involved activists saying get rid of your bank accounts, move to credit unions, essentially bank of america is even backing off just texting a notification that you may be in overdraft. bank of america already ditched its overdraft fee as has citigroup and hsbc. so this seems to be more sensitivity on the part of banks to what is going on ....

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