Pew about Safe Checking in the Electronic Age

Today Show: Lawmakers Target 'Unfair' Overdraft Charges

Congress will get another chance to limit checking account overdraft fees that continue to annoy customers and produce billions of dollars in revenue each year for banks and credit unions.

Fox Business: Why You Are Charged Hefty Bank Fees

No one likes bank fees. So why do banks charge them, taking the risk of alienating their customers?

Wall Street Journal: Bank Fees—What Are They Good For?

From mandatory-arbitration clauses that waive jury trials to fees on empty envelopes and cash deposits, your bank is keeping disclosures tied to your checking accounts heavily cloaked in fine print and sometimes not in any print at all.

Sorry, But You Probably Can’t Sue Your Bank

For better or worse, Americans tend to take it as an article of faith that if someone does you wrong, you can sue. But banks are quietly adding language to their account terms and services that take away your right to a day in court, and the law is on their side.

More Than Half of Top 12 U.S. Banks Now Use Pew’s Model Checking Disclosures

SunTrust voluntarily adopted The Pew Charitable Trusts’ disclosure summary for checking accounts today, becoming the seventh of the 12 largest banks in the country now using the simple disclosure box. Currently, this consumer-friendly information is available to over 40 percent of the US market, by deposit volume.

Holiday Overdraft Fees Add Up

If you bought one of the following gifts, you could pay this much after an accidental overdraft.

Paying for the Holidays

As the holiday shopping season takes off, consumers are turning to a variety of financial management tools. View our slideshow and learn more about Pew’s research on hidden bank fees, the growing use of prepaid debit cards, and the actual duration of payday loans that are marketed as two-week products.

Bankrate.com: Beat the Bank in Mandatory Arbitration?

Just say "mandatory arbitration" a couple of times. It may make you feel a little drowsy. But if you ever find yourself in a dispute with your bank or other financial services provider, those two words could determine your chances of successfully resolving it.

New York Times: How Banks Limit Your Options in a Dispute

Ninety percent of Americans use checking accounts, but they are often unaware that agreements with their bank limit their legal options if there is a disagreement, a new report from an arm of the Pew Charitable Trusts finds.

Banking on Arbitration

The report, Banking on Arbitration: Big Banks, Consumers, and Checking Account Dispute Resolution, reviews the 100 largest financial institutions’ dispute resolution clauses as well as consumer attitudes about these practices.

Pew Report: Most Banks Limit Consumer Options for Dispute Resolution in Checking Accounts

The Pew Safe Checking in the Electronic Age Project today released Banking on Arbitration: Big Banks, Consumers, and Checking Account Dispute Resolution, a report that examines the 100 largest financial institutions’ dispute resolution clauses as well as consumer attitudes about these procedures.

Banking on Arbitration

Big banks, consumers, and checking account dispute resolution.

Arbitration Bound

How does dispute resolution work, what is arbitration, and what are a consumer's options at every step along the way? Find out the with the Pew Safe Checking Project's interactive.

Kiplinger: Prepaid Cards Flooding the Market

’Tis the season for whipping out the plastic. But which plastic? This holiday season, more consumers will be shopping—and perhaps bill paying, check cashing and visiting the ATM—with prepaid cards. Prepaids typically come with a Visa, MasterCard, American Express or

CBS This Morning: Checking Rules Harm Consumers

A new study shows how your zip code can determine how much you pay in checking account fees. CBS News business and economics correspondent Rebecca Jarvis reports.

Still Risky: Bank Fees and Disclosures in the States

Where consumers live has a significant impact on how easily they can access information on terms, conditions and fees, as well as how much they will pay to maintain an account, overdraft, or accrue other fees.

New York Times: How Checking Account Fees and Terms Vary by State

No one likes to pay bank fees. And they are even more annoying when it is clear that the amount and variety of fees can vary depending not only on where you bank, but also on the state where you live.

Still Risky

Banks are continuing key banking practices that put consumers at financial risk and potentially expose them to high and unexpected costs for little benefit.

Quiz: Find the Fee

Do you read your bank's disclosures when opening an account? Where can consumers find important provisions about checking accounts? Take this interactive quiz to learn the answers.

Still Risky: Checking Accounts in Kansas

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in Kansas and hold 13 percent of all deposits in the state. Here’s what consumers in Kansas may be paying.

Still Risky: Checking Accounts in Florida

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Ten of the 12 largest banks nationwide offer checking accounts in Florida and hold 63 percent of all deposits in the state. Here’s what consumers in Florida may be paying.

Still Risky: Checking Accounts in Georgia

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Six of the 12 largest banks nationwide offer checking accounts in Georgia and hold 56 percent of all deposits in the state. Here’s what consumers in Georgia may be paying.

Still Risky: Checking Accounts in Idaho

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Idaho and hold 47 percent of all deposits in the state. Here’s what consumers in Idaho may be paying.

Still Risky: Checking Accounts in Illinois

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Seven of the 12 largest banks nationwide offer checking accounts in Illinois and hold 33 percent of all deposits in the state. Here’s what consumers in Illinois may be paying.

Still Risky: Checking Accounts in Iowa

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Iowa and hold 21 percent of all deposits in the state. Here’s what consumers in Iowa may be paying.

Still Risky: Checking Accounts in Indiana

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Seven of the 12 largest banks nationwide offer checking accounts in Indiana and hold 30 percent of all deposits in the state. Here’s what consumers in Indiana may be paying.

Still Risky: Checking Accounts in Alabama

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Alabama and hold 42 percent of all deposits in the state. Here’s what consumers in Alabama may be paying.

Still Risky: Checking Accounts in Alaska

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. One of the 12 largest banks nationwide offers checking accounts in Alaska and holds 51 percent of all deposits in the state. Here’s what consumers in Alaska may be paying.

Still Risky: Checking Accounts in Arizona

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Arizona and hold 70 percent of all deposits in the state. Here’s what consumers in Arizona may be paying.

Still Risky: Checking Accounts in Arkansas

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Five of the 12 largest banks nationwide offer checking accounts in Arkansas and hold 17 percent of all deposits in the state. Here’s what consumers in Arkansas may be paying.

Still Risky: Checking Accounts in Delaware

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Seven of the 12 largest banks nationwide offer checking accounts in Delaware and hold 19 percent of all deposits in the state. Here’s what consumers in Delaware may be paying.

Still Risky: Checking Accounts in California

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Six of the 12 largest banks nationwide offer checking accounts in California and hold 62 percent of all deposits in the state. Here’s what consumers in California may be paying.

Still Risky: Checking Accounts in Connecticut

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Seven of the 12 largest banks nationwide offer checking accounts in Connecticut and hold 45 percent of all deposits in the state. Here’s what consumers in Connecticut may be paying.

Still Risky: Checking Accounts in Colorado

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in Colorado and hold 43 percent of all deposits in the state. Here’s what consumers in Colorado may be paying.

Still Risky: Checking Accounts in Kentucky

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Five of the 12 largest banks nationwide offer checking accounts in Kentucky and hold 28 percent of all deposits in the state. Here’s what consumers in Kentucky may be paying.

Still Risky: Checking Accounts in Louisiana

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in Louisiana and hold 46 percent of all deposits in the state. Here’s what consumers in Louisiana may be paying.

Still Risky: Checking Accounts in Maine

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Two of the 12 largest banks nationwide offer checking accounts in Maine and hold 17 percent of all deposits in the state. Here’s what consumers in Maine may be paying.

Still Risky: Checking Accounts in Massachusetts

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in Massachusetts and hold 28 percent of all deposits in the state. Here’s what consumers in Massachusetts may be paying.

Still Risky: Checking Accounts in Michigan

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Michigan and hold 36 percent of all deposits in the state. Here’s what consumers in Michigan may be paying.

Still Risky: Checking Accounts in Minnesota

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Two of the 12 largest banks nationwide offer checking accounts in Minnesota and hold 56 percent of all deposits in the state. Here’s what consumers in Minnesota may be paying.

Still Risky: Safe Checking in Mississippi

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in Mississippi and hold 17 percent of all deposits in the state. Here’s what consumers in Mississippi may be paying.

Still Risky: Checking Accounts in Missouri

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Four of the 12 largest banks nationwide offer checking accounts in Missouri and hold 24 percent of all deposits in the state. Here’s what consumers in Missouri may be paying.

Still Risky: Checking Accounts in Montana

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Two of the 12 largest banks nationwide offer checking accounts in Montana and hold 21 percent of all deposits in the state. Here’s what consumers in Montana may be paying.

Still Risky: Checking Accounts in Nebraska

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Two of the 12 largest banks nationwide offer checking accounts in Nebraska and hold 15 percent of all deposits in the state. Here’s what consumers in Nebraska may be paying.

Still Risky: Checking Accounts in Nevada

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Still Risky: Checking Accounts in New Hampshire

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Two of the 12 largest banks nationwide offer checking accounts in New Hampshire and hold 37 percent of all deposits in the state. Here’s what consumers in New Hampshire may be paying.

Still Risky: Safe Checking in New Jersey

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Eight of the 12 largest banks nationwide offer checking accounts in New Jersey and hold 54 percent of all deposits in the state. Here’s what consumers in New Jersey may be paying.

Still Risky: Checking Accounts in New Mexico

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Three of the 12 largest banks nationwide offer checking accounts in New Mexico and hold 45 percent of all deposits in the state. Here’s what consumers in New Mexico may be paying.

Still Risky: Checking Accounts in New York

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Eight of the 12 largest banks nationwide offer checking accounts in New York and hold 63 percent of all deposits in the state. Here’s what consumers in New York may be paying.

Still Risky: Checking Accounts in North Carolina

Checking accounts, the most widely used financial product in America, contain hidden risks that can harm consumers. Six of the 12 largest banks nationwide offer checking accounts in North Carolina and hold 76 percent of all deposits in the state. Here’s what consumers in North Carolina may be paying.