We support reforms to the financial marketplace to curb bad practices by banks and lenders.
debit cards
January Bank Alert!
We all remember last fall when Bank of America and other big banks backed off from plans to charge customers a monthly fee for using a debit card to access their own money from their checking account. Even BoA admits that consumers deserve the credit for this victory (although they don’t use those words). Massive Continue Reading
Categories: Banking
Tags: $5 fee, bank fee project, bank of america, debit cards
College Students Raise Concerns About Higher One Card Fees
A small group of students and parents at Western Washington University are taking their consumer rights seriously.
Categories: Banking, Prepaid Cards
Tags: debit cards
BoA ends debit card fee plans following consumer backlash
Tuesday, November 1, 2011 Bank of America Ends Debit Card Fee Plans Following Consumer Backlash Episode Demonstrates Consumers Have Power to Shape the Marketplace Following weeks of consumer protest, Bank of America announced today that it is dropping its plan to begin charging consumers a monthly $5 debit card fee. Bank of America’s decision demonstrates Continue Reading
Categories: Banking
Tags: debit cards
SunTrust drops its debit card fee
Pressure builds on Bank of America to drop its fee for debit card purchases
Categories: Banking
Tags: debit cards
Letter from JP Morgan Chase to CU on its debit card fee test program
October 24, 2011 Norma P. Garcia Senior Attorney Manager, Financial Services Program Consumers Union West Coast Office 1535 Mission Street San Francisco, CA 94103-2512 Dear Ms. Garcia: Thank you for your October 17, 2011 letter to JPMorgan Chase’s Chairman and CEO, Jamie Dimon, regarding Chase’s Customized Checking test. We appreciate your feedback and are pleased Continue Reading
Categories: Banking
Tags: debit cards, legislation
CU offers “How-To-Change Banks” video
Bank Transfer Day set for Nov. 5 as activists encourage consumers to switch to credit unions & smaller banks
Categories: Banking
Tags: debit cards
BofA considering ways to scale back debit card fee
CU: Bank of America should drop debit card fee for all customers
Categories: Banking
Tags: debit cards
Chase will not charge customers a debit card fee
CU calls on Bank of America to drop its plan to charge a $5 monthly fee for debit card purchases
Categories: Banking
Tags: debit cards
Bank of America: Drop the $5 Debit Card Usage Fee
October 17, 2011 Brian T. Moynihan Chief Executive Officer and President Bank of America Corporation 401 N Tryon Street Charlotte, NC 28202 Re: Drop the $5 Debit Card Usage Fee Dear Mr. Moynihan: Recent news accounts have indicated that Bank of America will begin charging many of its checking account customers a $5 monthly fee Continue Reading
Categories: Banking
Tags: debit cards, letter
SunTrust Banks, Inc: Drop the $5 Debit Card Usage Fee
October 17, 2011 William H. Rogers, Jr. President and Chief Executive Officer SunTrust Banks, Inc. 303 Peachtree Street Northeast Atlanta, GA 30308-3201 Re: Drop the $5 Debit Card Usage Fee Dear Mr. Rogers: Recent news accounts have indicated that SunTrust Bank will charge Basic Everyday Checking Account customers a $5 per month fee in any Continue Reading
Categories: Banking
Tags: debit cards, letter
