Safe Checking in the Electronic Age

The Safe Checking in the Electronic Age Project aims to restore transparency, fairness, responsibility and free market principles to one of the most common consumer financial products — the  checking account. 


The campaign will promote policies to revise and update consumer banking regulations to:

  1. Reflect current technology
  2. Eliminate abusive industry practices that have arisen in regulatory gaps
  3. Provide the public with information and choices that promote responsible checking account management in the age of electronic banking. 

The two-and-a-half-year effort will advance laws and regulations that:

  1. End unfair deposit sequencing and deposit delay
  2. Require banks to give consumers the choice to opt in or out of overdraft programs at any time and to limit the number and cost of overdrafts
  3. Provide accountholders the information they need to reduce overdrafts. The Project will also seek to advance legislation that provides incentives to develop financial products that enable more consumers to fully utilize electronic funds transfer and current technology, such as direct deposit.


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