Schumer Bill Targets Check Accounts

Publication: The Associated Press

05/01/2011 - U.S. Sen. Charles Schumer is calling for new regulations to require banks to clearly and briefly describe checking account fees now buried in applications that can be more than 100 pages long.


Schumer is seeking a similar box now required in credit card applications forced by his legislation in 1988.

The Pew Charitable Trust reported last week that many banks have checking fee disclosures that are twice as long as Shakespeare's "Romeo and Juliet."


Read the full Associated Press article Schumer Bill Targets Check Accounts on the Wall Street Journal's Web site.

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