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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Reproduced from Bankrate; Chart: Axios Visuals

The average yield bank customers get for interest-bearing checking accounts tied a record low of 0.04% this year — yet fees for having such an account and the minimum balance required to avoid such fees both rose to record highs, according to Bankrate’s 2020 checking account and ATM fee study.

The state of play: The average fee for insufficient funds rose 0.3% to $33.47, also the highest it has been in the 23-year history of the annual study.

Yes, but: There was some good news for consumers.

  • The total average cost of using out-of-network ATMs decreased slightly, down 8 cents to $4.64, the lowest since 2016.
  • Average monthly fees hit a six-year low of $5.27.
  • 47% of accounts that don't pay interest were free.

Go deeper

Oct 29, 2020 - Health

U.S. tops 88,000 COVID-19 cases, setting new single-day record

Expand chart
Data: COVID Tracking Project; Chart: Axios Visuals

The United States reported 88,452 new coronavirus cases on Thursday, setting a single-day record, according to data from the COVID Tracking Project.

The big picture: The country confirmed 1,049 additional deaths due to the virus, and there are over 46,000 people currently being hospitalized, suggesting the U.S. is experiencing a third wave heading into the winter months.

Virginia lawmakers vote to legalize marijuana in 2024

Virginia Gov. Ralph Northam. Photo: Alex Edelman/Getty Images

Lawmakers in Virginia on Saturday approved compromise legislation that would legalize marijuana in 2024, putting the state a step closer to becoming the first in the South to end prohibition on the drug, the Richmond Times-Dispatch reports.

Why it matters: The legislation will make Virginia the 16th state to legalize marijuana, per Politico. It would add to a slate of laws that have seen Virginia move in a more progressive direction during the tenure of Gov. Ralph Northam.

Scammers seize on COVID confusion

Data: FTC; Chart: Sara Wise/Axios

Scamming has skyrocketed in the past year, and much of the increase is attributed to COVID-related scams, more recently around vaccines.

Why it matters: The pandemic has created a prime opportunity for scammers to target people who are already confused about the chaotic rollouts of things like stimulus payments, loans, contact tracing and vaccines. Data shows that older people who aren't digitally literate are the most vulnerable.