Pew's consumer banking project studies the accounts that Americans rely on every day to manage their finances, including checking accounts, prepaid cards, and mobile payments. The initiative builds partnerships with key stakeholders to advocate for effective consumer protections and a level playing field in the financial marketplace.
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Use of mobile payments in the United States is projected to grow at a 22 percent compound annual rate through 2019 and could offer a more convenient and less expensive way for Americans to manage their money, especially the more than 9 million U.S. households that are unbanked—that is, do not have bank accounts. Read More
WASHINGTON—A new issue brief from The Pew Charitable Trusts finds that consumers are interested in using mobile payments for speed and convenience but also have concerns about security of their personal information. Read More
Should the Consumer Financial Protection Bureau (CFPB) propose new rules aimed at making checking account overdraft policies at banks and other depository institutions safer and more transparent? Some banking industry representatives are questioning the need for CFPB action (“Consumers Lose if CFPB Overshoots on Overdraft,” BankThink, Nov. 10, 2015), but research by The Pew Charitable... Read More