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Banking

Some bank accounts come with hidden fees and complicated terms which often end up costing you. Consumers Union advocates for upfront pricing and fair practices so that you don’t end up losing your deposits.

Publications

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Press Releases

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Blog Posts

  • SECURE Act aims to help protect consumers from credit score gotchas

    These days, lenders and others rely heavily on credit scores to make a quick assessment of a consumer’s creditworthiness. But, vulnerable consumers can find themselves tricked into paying more than they had planned, just to find out their own credit scores. In our new policy brief, “Errors and Gotchas: How Credit Report Errors and Unreliable Continue Reading

  • CU Policy Brief Shines a Light on Credit Report Errors and Unreliable Credit Scores

    Now more than ever, consumers need credit reports that are fair and accurate, and deserve easy access to the same credit scores lenders use to make decisions about them. That’s because credit report mistakes can make it harder to get a fair rate on a loan or auto insurance or even prevent someone from getting Continue Reading

  • Data Breaches Driving You Crazy? California DMV gives consumers new reason to worry.

    Uh, oh. It’s happened again: another data breach. Consumers who used the California Department of Motor Vehicles (DMV) online credit card payment system may find their credit card information is at risk. The California DMV’s Public Information Officer, Armando Botello, says that the DMV was “alerted by law enforcement authorities to a potential security issue Continue Reading

  • Mortgage Madness Continues? CFPB Receives 4,300 Mortgage Complaints per Month

    Last February, Steve Antonakes, Deputy Director of the CFPB, noted that the agency’s “mortgage complaint volume . . . remains high and averages around 4,300 complaints per month.”  He made these remarks while speaking before the U.S. Chamber of Commerce. According to a recent blog by Housingwire, these numbers “show little improvement in the volume Continue Reading

  • A Selfie for Your Checks? What You Should Know about Remote Deposit Capture

    by guest blogger Caitlin Watkins  Too busy to go to the bank? Hate waiting in lines? I sure do. That’s why I tried Mobile Remote Deposit Capture (mRDC), which is basically like taking a selfie of all of your checks to be deposited straight to your bank account or prepaid card.  Awesome, right? Even the Continue Reading

  • Chomping at the Bitcoin? What You Should Know

    Earlier this month, 6% of all bitcoins in the world were stolen. If a similar theft occurred involving 6% of all US currency in circulation, that would be a heist of $75 billion dollars.  What is bitcoin? It’s money. Bitcoin is often referred to as a virtual currency. In other words, digital money. At its Continue Reading

  • Why The CFPB Is The Best Thing To Happen To Americans Since J.Law

    Jennifer Lawrence is pretty awesome, right? For several years now she’s excelled at playing characters that excite the American imagination- they’re young, vibrant, and struggle against difficult odds or crafty opponents.  The Consumer Finance Protection Bureau (CFPB) is also young, rather vibrant, and also goes to battle with powerful forces but, despite all this, the Continue Reading

  • Worried About the Target Breach? The CFPB Has Some Tips

    As the fallout from the Target data breach continues (along with Neiman Marcus and Michael’s), many consumers are wondering what, if anything, they can do to protect themselves from fraud and identity theft.  Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a “consumer advisory” with basic tips on how to keep your information safe. So Continue Reading

  • Transaction Monitoring and Credit Monitoring in Light of the Target Breach

    Target has begun to offer security breach victims free credit monitoring for a year now that approximately 110 million Americans may have had their data compromised due to a security breach. We’ve advised consumers to conduct regular transaction monitoring to prevent fraud, and now some consumers have been asking us, “What’s the difference between transaction Continue Reading

  • Scam Bam, No Thank You Ma’am: How to Avoid Being Scammed after the Target Security Breach

    by guest blogger Caitlin Watkins In the wake of the Target security breach, there are a number of scams that are popping up. These scams try to gather consumer’s personal and credit information. This is adding to insult to injury, as we also just found out that the initial 40 million Target customers affected by Continue Reading

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