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.
- Testimony regarding Check Clearing for the 21st Century Act
The Act would make it impossible for the estimated 45.8 million U.S. households who now get their paper checks back to get all their paper checks back every month.
- On-line banking policies and principles
Supplement to Consumers Union policy on electronic money and banking
- Letter to the CA Dept. of Social Services regarding electronic benefit transfer
Groups write to express concerns about policy judgments made by the State before release of final request for bids in the creation of California’s electronic benefit transfer (EBT) system.
- Letter to the Federal Reserve Chairman Greenspan regarding application of merger
CU opposes the approval of the application filed by Travelers Group Inc. to merge with Citicorp
- Comments on NationsBank/Bank of America Merger Application to the Federal Reserve Bank
CU submits comments on the proposed merger of Bank of America and NationsBank to raise concerns about the merger’s impact on consumers.
- Got Money?
A new documentary film, “Overdrawn,” provides a humorous yet sobering look at the issue of hidden banking fees associated with common banking practices.
- America’s banks missing the mark on banking fees
Last Tuesday the American Banking Association (ABA) released a survey showing that “sixty-five percent of consumers spend $3 or less in monthly fees.”
- Thanks Bank of America for raising the fee…
You may soon discover, or have already discovered, that you are paying more cash to get cash. Bank of America has raised the fee to $3 for all non-customers who use their ATMs…nearly double what most banks charge. According to Bankrate.com, the average ATM surcharge fee is $1.64.
If overdraft fees enrage you, you’re not alone. Karney Hatch has written and directed “Overdrawn! The Documentary,” a “feature-length documentary film exploring the predatory lending practices of the major national banks.” The movie will be premiering at the Clinton Street Theatre in Portland on August 2 and expects to open in more theatres.
- Fed Up with Long Check Hold Times
Are you tired of waiting for the checks you deposit to clear? In late April 2007, the Federal Reserve Board quietly released a study saying that there are no problems with check hold times. But, we’ve heard from many fed-up consumers that banks are still making you wait too long before you can use money from checks you deposit.
- Tired of waiting for your deposits to clear?
Where is Your Deposit? Are you finding that the money for checks you write and other payments you make is leaving your account faster than ever, but the checks you deposit are still subject to pesky “check holds” that make you wait to spend the money you’ve deposited?
- Your credit cards – What you don’t know can cost you
A few tips to educate you on credit cards.
- CardSystems’ security breach shows need for stronger safeguards
Latest incident highlights how lax data security puts consumers at risk for fraud.
- Financial Services Issues: A Consumer’s Perspective
Testimony before the House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit regarding consumer financial services issues for Congress.
- “Overdraft protection” offered by banks comes at steep price
Groups urge Fed to require banks to disclose the cost of these high-cost loans.