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Checking Accounts: High Fees, 69-Page Disclosures

Friday, June 8, 2012 - 4:53 AM
From CNNMoney
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.

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3
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
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. 
4
pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,264
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