Banks are always crowing about how they aren’t going to have fees for this or that, but somehow, over time, the monthly bank statement comes and there are a load of fees on there. And most of them are worded in such a way that the consumer has absolutely no idea what they are for.

Australian Josh Reich has certainly felt the bewilderment. “Banks make money by keeping customers confused,” Reich told the New York Times. “There’s no incentives to make the experience better.”

So what did Reich do? He partnered with a pal, Shamir Karkal, and started an online bank, Simple, a “worry-free alternative to traditional banking” that doesn't charge any fees.

Formerly known as BankSimple, the Portland, Ore.-based startup which has now processed more than $200 million in transactions, offers its 20,000 customers data-rich analysis of expenditures as well.Continue reading...

Some Facebook trends and stats to pay attention to this week:

Nielsen's new “gross ratings points” system will launch with Facebook's help, as the traditional measurement firm seeks to expand its digital, cross-platform and social savvy. Nielsen Online Campaign Ratings was announced last September and will debut August 15th with Facebook as its first client, reports Mashable. Use of gross ratings points to measure online campaigns instead of traditional metrics like click-through rates or impressions lets marketers purchase online ads in a way similar to TV and print. More importantly, it provides fodder for convincing advertisers that social-media platforms like Facebook hold significant sway on brand’s campaigns. "Brands love word of mouth," commented Sean Bruich, head of the measurement research team at Facebook, to the Wall Street Journal, in something of an understatement. Find out more on Nielsen's blog post.

According to TBG Digital, Facebook's share of U.S. display ad revenue is projected to grow to 17.7% in 2011, up from a 12.2% share last year. The site's growing interest to advertisers helps explain why Facebook is partnering with comScore on its new measurement system, Social Essentials, which aims to enable brands to understand the size and composition of their social media fan base and the reach and frequency of brand impressions.Continue reading...

AOL acquires About.me social profile site (that's K'naan's splash page, above) a mere four days after going live and a year post start-up.

Apple spurs iAds for the iPad with new tools.

Cricket aims to turn music pirates into paying customers.

FCC's "strong" net neutrality rules criticized on all sides.Continue reading...

NBCU will stream the Winter Olympics via "TV Everywhere." [MediaPost]

GM will not consider Spyker's bid for Saab. [AFP]

Citigroup needs a brand makeover. [BNET]

Ford finalizes sale of Volvo to Geely. [WSJ]

Asian airlines ramp up customer service, perks. [NY Times]

Whole Foods CEO John Mackey gives up Chairman position in compliance with governance rules. [WSJ]Continue reading...