Media Coverage

CNNMoney: How Your Checking Account Stacks Up

When it comes to checking accounts, not all banks are created equal.

Ally Bank, Charles Schwab Bank (SCHW, Fortune 500), First Republic Bank, Citibank (C, Fortune 500) and Bank of America (BAC, Fortune 500) top the list, according to a Pew Charitable Trusts review of checking account disclosures, overdraft fees and dispute resolution policies at 36 of the nation's 50 biggest banks.

These banks did the best job of informing consumers about checking account fees and terms clearly and concisely. They also minimize the overdraft fees consumers are hit with if they overdraw their account, and let customers take disputes to court rather than requiring them to waive their right to a jury trial, Pew found.

But even out of the highest-rated banks, none had perfect scores in every single category.

***

“All banks showed there’s room for improvement,” said Susan Weinstock, director of Pew’s Safe Checking in the Electronic Age Project.

Read the full article at money.cnn.com.

Projects:
Safe Checking in the Electronic Age
Issues:
Checking & Banking
 
X

Related Resources

PCS.PRODUCTION.1.20140221.1210 (PEWSUWVMWAPP01)