We support reforms to the financial marketplace to curb bad practices by banks and lenders.
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
- 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.
Blog Posts
- California Signs Contract With Citicorp To Privatize Delivery Of Food Stamps And Welfare Benefits
CU urges state to monitor citicorp’s performance to ensure that recipients enjoy easy, cost-free access to benefits
- Electronic Benefit Transfer
A new system for distribution of food stamps and possibly cash benefits
- Summary of the California Depart. of Social Services’ invitation to partner for electronic benefits
Electronic Benefit Transfer (EBT), the way to deliver food stamps and potentially cash benefits is federally mandated in all states in 2002
- Electronic Benefit Transfer (EBT) Programs: Best practices to serve recipients
This report is intended to be useful to EBT program administrators and consumer advocates throughout the U.S.
- CU urges California to make new computer system for distributing public assistance benefits user-friendly
State officials are negotiating contract with Citicorp, which has been criticized in other states for providing inadequate service to recipients
- CU urges public input in state computer contract to handle $4.9 billion in public assistance benefits
The state began a process last week of selecting a private contractor to design and run a multi-billion dollar computer system to deliver food stamps and potentially welfare cash benefits.
- Recipients of electronic food stamps should have same protections as bank customers
Families must not risk losing food if debit card is lost or stolen
- Rising bank fees create financial burdens for low and moderate income consumers
Millions of Americans, looking for a place to safely deposit their hard earned dollars and a means to pay their bills, get hit every month with checking account fees they cannot avoid. And those fees are going up.
- Consumers win battle with Bank of America over arbitration
Court rules that benefits of arbitration cannot be iIllusory”
Worried about retirement?
The stock market has been unusually volatile, plunging hundreds of points, creeping back, only to plunge again. It is hard to stay disciplined about saving when every dime you’ve invested can evaporate in a day.
What is your biggest concern about your own retirement? We want to hear from you.
Where to complain
Online, by mail, phone or fax... Agencies need to hear from you!