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.
- Consumers Union’s agenda for the 111th Congress
CU hopes to work closely with the 111 th Congress to help improve the marketplace for consumers
- 2008 Fee Study of Bank and Credit Union Overdraft Programs
- Fact Sheet about ID Theft
Over 261,891,160 records containing personal and financial information were involved in security breaches announced from January 2005 to June 2009.
- Jury’s out on abusive overdraft loans proposal
Banking regulators withdrew rules that failed to protect consumers from high-cost, unsolicited overdraft loans.
- Read the whole December 2008 overdraft proposal
- New credit card protections adopted by Feds
Federal regulators act to protect consumers from certain abusive credit card lending practices
- Letter to the Comptroller of the Currency regarding stored value cards
Consumers should have peace of mind that the funds on their prepaid cards are protected.
- FDIC study of Bank Overdraft Programs
- Consumer Reports, Viewpoint: Debit Holds
As if gas didn’t cost enough… Mary Alice Belov planned to put gas in her car, then buy groceries. What she didn’t plan on was the $10 gas purchase freezing $50 of her bank account and forcing Belov, a small-business owner from Goldendale, Wash., to put items from her cart back on the shelf. Blame Continue Reading
- Protect all your money if your bank fails
Consumer groups call on the FDIC to apply deposit insurance to all prepaid cards, payroll cards, and bank-issued gift cards.
- Victory! Chase Will Not Charge Debit Card Fee
Chase will not charge $3 monthly fee. Bank of America should follow suit.
- Why Is Bank of America charging $5?
Is financial reform to blame for the big banks charging you more fees? Nope.
- Send BofA Your Own Video Breakup: “Drop the fee or we drop you!”
We imagine the conversation might go something like this…Press play!
Do you have something to say to Bank of America? Soon BofA will charge you $5 a month to use your debit card, even though they’re already collecting enough money from retailers to profit on the processing costs.
- Letter To BoA: Drop The $5 Fee!
If the banks don’t drop these fees then consumers should drop them.
- How To Move Your Money Safely
Sick of your bank’s new fees? Use these tips to move your money.
- B of ATo Start Charging $5/Month Debit Card Fee
Bank of America announced that it will start charging customers $5 per month to use their debit card.
- Wells Fargo To Start Charging For Debit Card Use
Wells Fargo will start charging a $3 fee in every month that customers use their debit cards for purchases starting October 14.
- Banks Can Sell Your Personal Shopping Habits: You Can Stop Them
Savvy shoppers aren’t the only ones watching their spending these days.
- Bank Fees Are Hard to Find, But Free Checking Isn’t Dead Yet
A new study by U.S. PIRG found that banks often don’t disclose fees the way they’re supposed to under law. Nonetheless, contrary to the media buzz, many banks and credit unions still offer no- or low-cost checking accounts.
- Prepaid Cards vs Bank Account
Most prepaid cards charge higher fees than basic checking accounts offered by the top five banks in the U.S., according to our new reprt