Project News
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- Press Release
- Safe Checking in the Electronic Age
Citibank Adopts Pew’s Summary of Checking Account Terms & Fees
Citibank is the third major bank to announce it will voluntarily adopt Pew’s simple overview for checking accounts.
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- Press Release
- Safe Checking in the Electronic Age
Pew's Comments: Impact of Overdraft Programs
Letter to Monica Jackson, Office of the Executive Secretary at the Consumer Financial Protection Bureau, from Susan K. Weinstock, Project Director of Pew Center on the States' Safe Checking in the Electronic Age Project, regarding the Impact of Overdraft Programs.
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- Press Release
- Safe Checking in the Electronic Age
Pew Finds Consumers Subject to Unclear Policies, Leading to Unnecessary Costs When Navigating Checking Accounts
The Pew Safe Checking in the Electronic Age Project released Still Risky: An Update on the Safety and Transparency of Checking Accounts today, a report that examines the many financial risks consumers face when they open a checking account. more
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- Press Release
- Safe Checking in the Electronic Age
TD Bank Adopts Pew's Simple Disclosure Document
Pew commends TD Bank, Illinois’ Inland Bank, University of Illinois Employees Credit Union, and Tennessee’s Eastman Credit Union for voluntarily adopting Pew’s model checking account disclosure form. more
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- Press Release
- Safe Checking in the Electronic Age
Chase, North Carolina State Employees' Credit Union, and Pentagon Federal Credit Union Adopt Pew's Simple Account Terms Disclosure Form
The Safe Checking in the Electronic Age Project applauds Chase, North Carolina State Employees’ Credit Union, and Pentagon Federal Credit Union for voluntarily adopting Pew’s model checking account disclosure form. more
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- Press Release
- Safe Checking in the Electronic Age
Checking Account Customers Support Stronger Banking Regulations, Pew-Commissioned Poll Finds
Nearly three-fourths of Americans with checking accounts support regulations that would require banks to better disclose the terms, conditions and fees associated with their checking services, according to a new poll commissioned by the Safe Checking in the Electronic Age Project. more
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- Press Release
- Safe Checking in the Electronic Age
Pew Finds Checking Accounts Contain Risky Terms and Conditions
One hundred eleven pages. That is the median length of the checking account disclosures consumers are supposed to read and understand before opening an account at any of the 10 largest banks, according to documents analyzed in a new report from the Pew Health Group’s Safe Checking in the Electronic Age Project. Failure to provide clear and comprehensive disclosure can expose accountholders to hidden and potentially dangerous risks. more
Media Coverage
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- Media Coverage
- Safe Checking in the Electronic Age
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. more
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- Media Coverage
- Safe Checking in the Electronic Age
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
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- Media Coverage
- Safe Checking in the Electronic Age
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. more
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- Media Coverage
- Safe Checking in the Electronic Age
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. more
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- Media Coverage
- Safe Checking in the Electronic Age
Reuters: Wal-Mart, Amex Take on Banks With Low-priced Debit Card
Wal-Mart Stores Inc and American Express Co are teaming up to offer a prepaid debit card called Bluebird to target lower-income shoppers who may not have bank accounts. more
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- Media Coverage
- Safe Checking in the Electronic Age
More Evidence That We’re Getting Hammered With Bank Fees
It's hard to tell which is piling up faster — the fees bank customers have to pay these days or the research showing just how pervasive these fees are. more
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- Media Coverage
- Safe Checking in the Electronic Age
Local Banks Charge Higher Checking Fees; Some Even Charge To Mail You a Statement
Bank fees are becoming a heightened issue because of campaigns like the one by the nonprofit Pew Charitable Trusts, which has been pushing banks and credit unions to make it easier for consumers to know in advance how much it will cost them to do business with a particular bank. more
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- Media Coverage
- Safe Checking in the Electronic Age
Banks simplifying checking account disclosures
Bowing to pressure from consumers and Congress, major banks are simplifying the information they provide to customers about their most basic product — the checking account. Bank of America Corp. said Wednesday that it was adopting plain language disclosures that
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- Media Coverage
- Safe Checking in the Electronic Age
LA Times: BofA joins Chase, Citibank in Simplifying Checking Disclosures
Pressured by consumer advocates and Congress, most of the nation's big banks are now providing consumers a one page form listing basic terms and conditions for checking accounts, with Bank of America Corp. the latest to join the trend.
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- Media Coverage
- Safe Checking in the Electronic Age
BofA Launches New Fee Disclosure Statements, Joining Other Banks
Bank of America Corp on Wednesday said it will provide customers with new, easy to read statements with information about fees for consumer and business checking accounts, following similar steps by other banks. The two page "checking clarity statements" will
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