by Samia S. Morgan
Business news you can use from your Better Business Bureau®
▪ Banks seek new strategies to earn customers' trust
After years of relying on less-than transparent fees and risky products, bankers are attempting to rebuild trusting relationships with customers by interacting with them through more honest means. New laws and the crippling effects of the economic downturn have also prompted banks to find new ways to connect with customers. The New York Times/The Associated Press
▪ IRS has turned its focus to small businesses in recent years
Small businesses have attracted a disproportional amount of Internal Revenue Service scrutiny in recent years, even as the audit rate for the nation's largest corporations declined to 25% from 42.6%, according to a study by the Transactional Records Access Clearinghouse at Syracuse University. The revelation highlights the need for enhanced tax protections for small business, Dean Zerbe writes. Forbes
▪ Some credit card issuers extend protections to business customers
Bank of America, American Express and some other credit card issuers have extended protections recently mandated by law for consumer cards to their business customers, in part because it's more cost-effective to have one set of rules. But the rules could hamper credit to business borrowers, and, without legal regulations, issuers could choose to reverse the rules at any time, experts warn.
▪ Have a problem with your bank? Call BBB
If you're frustrated by coming up against dead ends in trying to challenge what seems like unfair treatment from your bank, take heart in this statistic: BBB has a 95% resolution rate with banks. BBB's Alison Southwick reminds customers that this doesn't mean everyone who complains gets their way, but BBB can help find out whether you've been treated fairly and legally and then take action if you haven't. WalletPop
Article from www.bbb.org
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