Friday, June 8, 2012 - 4:53 AM

Checking Accounts: High Fees, 69-Page Disclosures

Consumers are still getting hit with unexpected fees and aren't receiving clear information about the costs involved with their accounts, according to a report by the Pew Safe Checking in the Electronic Age Project. The study examined the information on 274 checking accounts offered by the nation's 12 biggest banks and credit unions.

KenBDG5,146 posts since
Nov 29, 2009
Rep Points: 117,026

1. Friday, June 8, 2012 - 6:49 AM

Perhaps someday the Pew organization and the CFPB will tackle the issues of multi-page disclosures as well as harsh and flexible (subject to change by the bank) early-withdrawal penalties on CDs. It won't be any time soon, though, because there are probably more people who have checking accounts than own CDs.

pearlbrown1,006 posts since
Nov 2, 2010
Rep Points: 3,862