Hidden Fees in Checking Accounts Put Consumers at Financial Risk

Publication: Pittsburgh Post-Gazette

Author: Patricia Sabatini


06/08/2012 - Checking accounts still have traps that unfairly cost consumers billions in fees, according to a follow-up report from Pew Charitable Trusts.

"There continue to be key banking practices that put consumers at financial risk and potentially expose them to high and unexpected costs for little benefit," the report said.

Much of the problem stems from long and confusing disclosure documents that, despite being voluminous, leave out key information consumers need to avoid being blindsided, the Philadelphia-based nonprofit charitable research group said.

Read the full article, Hidden Fees in Checking Accounts Put Consumers at Financial Risk, on the Pittsburgh Post-Gazette's website.

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