Your Money: Why banks are suddenly closing down customer accounts

Banks generally won't say how often they are closing certain accounts, and they're not tracking how often they get it wrong. But federal data offer clues.

View in browser|nytimes.com Continue reading the main story November 6, 2023 Dana Golan for The New York Times Why Banks Are Suddenly Closing Down Customer Accounts Surprised individuals and small-business owners can't pay rent or make payroll, and no one ever explains what they did wrong. By Ron Lieber and Tara Siegel Bernard Subscribe Today We hope you've enjoyed this newsletter, which is made possible through subscriber support. Subscribe to The New York Times with this special offer. How do you use checks? Do they work well for you? Fewer people are writing paper checks these days, and for banks that's a good thing. With check fraud on the rise, banks prefer other forms of payment. We would like to hear from readers who use paper checks anyway. your money adviser Open Enrollment Begins for Affordable Care Act Health Plans Pandemic-era help with the monthly insurance premium costs continues through 2025. By Ann Carrns Mint, One of the First Budgeting Apps, Is Shutting Down Intuit, which acquired Mint in 2009, is encouraging users to switch to Credit Karma, its money management and credit score service. By Jenny Gross What Fed Rates Mean for Mortgages, Credit Cards and More Savers benefit from higher rates, but borrowers have faced bigger bills on credit cards, student loans and other forms of debt. By Tara Siegel Bernard Strategies In a Warming World, Clean Energy Stocks Fall While Oil Prospers The market is focused on making money now and isn't heeding urgent warnings about climate change, our columnist says. By Jeff Sommer Swift Reversal in Bonds and Rally in Stocks Cap Wild Week for Markets A series of data reports and actions by policymakers have led investors to reassess their assumptions about interest rates and the economy. By Joe Rennison Why Wall Street Is So Worried About 'Refunding' A routine announcement by the Treasury Department about its borrowing plans has attracted more attention than usual because of the rapid rise in interest rates. By Joe Rennison Job Growth Slows, Sowing a Mix of Concern and Calm U.S. employers added 150,000 workers in October, falling short of expectations, but the labor market retains spark nearly three years into a recovery. By Talmon Joseph Smith Are Higher Rates Slowing the Economy? A Zoo Offers Clues. Economists are surprised by how strong the economy remains with rates at a 22-year high. But there are some signs of slowing, if you know where to look. By Jeanna Smialek Continue reading the main story ADVERTISEMENT Most Americans still have to commute every day. Here's how that experience has changed. More than three years since the beginning of the pandemic, more than 100 million workers are back to commuting or never stopped. For many, their commutes have changed in ways both good and bad. Take a data-driven dive into what's happened to the American commute. By Lydia DePillis, Emma Goldberg and Ella Koeze DealBook Newsletter How the Real Estate Broker Business Could Change Industry experts say a federal jury ruling this week against the National Association of Realtors and large brokerages makes the current commission model likely to change. By Michael J. de la Merced and Jordyn Holman Perspectives The Cost of Being Disabled in New York City Housing Some landlords are asking disabled people to foot the bill for accommodations, leaving even those with ample resources without an accessible place to live. By Claire Perlman No Tip for Your Delivery Driver? Then Be Prepared to Wait, DoorDash Says. The app-based delivery company said it was testing a screen that tells customers who didn't leave a tip that their order might take longer to arrive. By Christine Hauser Will the Art Market Need to Discount Its Masterpieces? Amid fears that a new war could threaten the world economy, New York's coming auctions will test a growing consensus that the $60 billion art market is headed toward a down cycle. By Zachary Small Electric Planes, Once a Fantasy, Start to Take to the Skies How a small plane's 16-day trip from Vermont to Florida might foreshadow a new era of battery-powered air travel long considered implausible. By Niraj Chokshi and Tony Cenicola All the Trimmings, None of the Work: Thanksgiving in a Hotel Turkey trots, holiday-themed spa treatments and multicourse feasts for those who don't want to lift a finger: Here are five places to spend the holiday. By Stephanie Rosenbloom Continue reading the main story ADVERTISEMENT How are we doing? We'd love your feedback on this newsletter. Please email thoughts and suggestions to yourmoney_newsletter@nytimes.com. Like this email? 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