Can a Bank Deduct Late Payments From My Savings Account?

Answer Your bank has a way to make you pay your debt without going through the courts: the right of offset. Because of the potential for abuse, the federal government places heavy restrictions on a bank t... Read More »

Top Q&A For: Can a Bank Deduct Late Payments From My Savings...

Things You Can Deduct From a Health Savings Account?

The best way to determine what medical expenses to deduct tax-free from a Health Savings Account is to follow the guidelines in IRS Publication 502, "Medical Expense Deductions," and IRS Publicatio... Read More »

Can a Bank Use Right of Offset to Deduct Monthly Payments on a Loan That Is Not Delinquent?

You might feel afraid to do business with only one bank, because it could use the right of offset -- paying debts with funds in other accounts held at a single institution -- but this cannot happen... Read More »

How to Calculate APY on a Bank Savings Account?

The annual percentage yield (APY) represents the rate of interest on a certificate of deposit, savings account or other investments. Typically, annual percentage yield is calculated for compounded ... Read More »

Savings Bank Account Rules?

Savings accounts are maintained by financial institutions and allow customers to set aside a portion of their liquid assets while earning interest. Savings accounts are regulated by the federal gov... Read More »