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.
- 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.
- FACT SHEET: FDIC Insurance and Bank Failure
The FDIC insures deposits in most of the nation’s banks and savings associations in the case of failure. In the event of liquidation or closing of any FDIC insured bank, payment of the insured deposits are made as soon as possible.
- Where’s my money: Consumer protections needed for new ways to pay
Five things to do today with payments law.
- NBC’s Overdraft Report- Watch It
NBC outlines what to watch out for in overdrafts
- Back To School: Campus Financial Tips
Tips for Bank Accounts, Credit Cards, and Prepaid Cards for college students
- DYD to Wells Fargo: “STOP”
We are calling on Wells Fargo to stop automatically enrolling their customers into overdraft programs they may not want.
- Consumers To Governorator: Sign SB 933!
California’s Governator Needs To Sign Bill To Barr Fees From Debit Cards
- Wells Fargo’s unfair overdraft practices EXPOSED
On Tuesday, a district court judge wrote a scathing decision which found that Wells Fargo “acted in bad faith” by clearing transactions in a way which generated more fees and revenue at the expense of depositors.
- Bank of America Charging $8.95 for Paper Statements
In Georgia Bank of America is introducing a new type of bank account. One that charges $8.95 to receive paper statements.
- A bar in Seattle will buy you dinner for quitting Chase bank
After having enough of Chase the owner of Twilight Exit bar in Seattle is offering a free steak dinner with proof that you have dropped your Chase bank account.
- As the July 1st deadline approaches, CFA warns consumers not to Opt-In to Overdraft.
CFA releases a survey of Big Bank Overdraft Fees and Terms
- Bank of America gave us a little and then took it away!
B of A is thinking up new fees to add to their checking accounts to make up for lost overdraft revenue.
- Working to improve Chase’s Overdraft Opt-in Solicitations
Over the past few months CU has joined other consumer groups to encourage Chase to make their overdraft opt-in solicitations less misleading to consumers.