Inflation surges in December to highest rate since 1982

Prices paid by U.S. consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, rent and other necessities are heightening the financial pressures on America's households.

Bank of America cuts overdraft fees

Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.