We support reforms to the financial marketplace to curb bad practices by banks and lenders.
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CU: Bank of America should drop latest fee scheme
Bank of America is testing new monthly fees that could be rolled out nationally soon
Categories: Banking, CFPB
Tags: bank fee project, bank of america, checks, tips, video
Consumer Advocates Comments to Proposed Rules on Changes to Check Processing
June 1, 2011 Jennifer Johnson Secretary Board of Governors of the Federal Reserve System 20th Street and Constitution Ave, NW Washington, D.C. 20551 RE: 12 CFR Part 229, Regulation CC; Docket No. R-1409 Dear Ms. Johnson: Consumers Union, the nonprofit publisher of Consumer Reports® and Consumer Federation of America appreciate this opportunity to provide comment Continue Reading
Tips for checking account customers
Tips for checking account customers • Find out how you can avoid monthly fees: Check with your bank to find out whether you can take steps to avoid monthly fees. Some banks will eliminate monthly fees if you use direct deposit for your paycheck or if you maintain a minimum balance or use your debit Continue Reading
Frequently Asked Questions About Checkholds
Read this chart and list of frequently asked questions to find out how long a bank can hold the funds you deposit by check. Starting July 21, 2011, a bank must make $200 of your deposited funds available the next business day. Also, the new Consumer Financial Protection Bureau will have joint authority with the Continue Reading
CU comment on “end of checks” proposed rule
Comment on Treasury proposal to amend 31 CFR Part 208.
Categories: Banking, Government Issued Cards, Payments, Prepaid Cards
Tags: checks, legislation
As the July 1st deadline approaches, CFA warns consumers not to Opt-In to Overdraft.
CFA releases a survey of Big Bank Overdraft Fees and Terms
Categories: Banking
Tags: checks, loans, overdrafts
Get the Facts about Overdrafts and Fees
Brochure by Consumer Federation of America, with information about overdraft programs and why you should not fall for your bank’s aggressive marketing campaign aimed at signing you up for an overly expensive program that you don’t need. Includes: • What the Real Deal on Overdrafts? • New Overdraft Rules and How They Affect You • Continue Reading
Categories: Banking
Tags: checks, loans, overdrafts, tips
Bank of America gave us a little and then took it away!
B of A is thinking up new fees to add to their checking accounts to make up for lost overdraft revenue.
Categories: Banking
Tags: checks, loans, overdrafts
Group Comments to FDIC on Safe Transaction and Savings Accounts
Consumer Action, Consumer Federation of America, Consumers Union, National Consumer Law Center (on behalf of its low income clients), and US PIRG welcome the opportunity to comment on the FDIC’s proposed templates for Safe Transaction and Savings Accounts to benefit low and moderate income consumers. Consumers currently in the ranks of the unbanked and under-banked Continue Reading
Categories: Banking, Prepaid Cards
Tags: checks, legislation, loans, overdrafts
