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Payday Lending in America
This collection presents original research findings from the Pew Safe Small Dollar Loans Research Project on the existing landscape for payday lending around the country. more
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- Issue Brief
- Safe Small-Dollar Loans Research Project
Guidance on Deposit Advance Products
Enclosed are comments on guidance that the FDIC and OCC (the Agencies) have proposed regarding deposit advance loans. As your guidance recognizes, the essential issue is the borrower's ability to repay. Deposit advance loans unrealistically require lump-sum repayments that far exceed most borrowers' financial capacity. The predictable result is that customers are unable to repay the loans and meet their other financial obligations, resulting in prolonged periods of renewing or re-borrowing. more
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- Press Release
- Safe Checking in the Electronic Age
Eight of Top 12 U.S. Banks Adopt Pew’s Model Checking Account Disclosure Box
Branch Banking & Trust (BB&T), the ninth largest bank by deposit volume in the United States, voluntarily adopted The Pew Charitable Trusts’ disclosure summary for checking accounts today, bringing the total number of large banks that now use this easy tool to eight.
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- Media Coverage
- Safe Checking in the Electronic Age
The New York Times: Banks Lag on Consumer Friendly Checking Practices
Two of the country’s largest banks scored well on a ranking of the consumer-friendliness of their checking accounts, but no bank met all of the recommended criteria, a new analysis found. more
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June 1, 2013
Reuters: Regulatory Failure Du Jour, Overdraft Fee Edition
A study last year from the Pew Charitable Trusts found that “more than half of those hit with overdraft fees did not believe they had opted in to the policies”.
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- Media Coverage
- Safe Checking in the Electronic Age
Washington Post: Banks Improving on Fee Disclosure, But More Rules Needed, Pew Says
Banks are doing a better job of informing consumers about the costs associated with their checking accounts, but more regulation is needed to ensure that the terms are fair and transparent, according to a report issued by Pew Charitable Trusts on Thursday. more
