Checks and Balances: 2015 Update

Data Visualization May 12, 2015 Read time:

Projects: Consumer Banking & Consumer Finance

Checks and Balances: 2015 Update

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- Checks and Balances: 2015 Update Full Report
- Methodology

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The report Checks and Balances: 2015 Update studied 45 of the nation’s 50 largest banks, by volume of deposits, and documented their use of best and good practices in the areas of disclosure, overdraft, and dispute resolution. The information in this visualization tool reflects data collected in November 2014 from banks in 49 states and the District of Columbia, as well as those that are online-only. (Five banks did not provide information to Pew, and no bank ranked in the top 50 was operating in Hawaii.) Once you have chosen a state, please hover over a column in order to see a description of that specific practice. Banks are ordered by number of best, then good, practices, and alphabetically when tied.

Best Practices Good Practices

Bank Name	Total(out of 7)	Disclosure		Overdraft				Dispute Resolution
		Attempts a summary disclosure box but omits key information		Limited high-to-low transaction reordering Threshold amount to trigger an overdraft No extended overdraft fee				Arbitration opt-out provision No jury trial waiver clause Small-claims arbitration exemption
			1		2	3	4		5	6	7
U.S. Average *	3.0		87		16	14	44		24	24	94
{{bank.bank_name}}	{{bank.total_best}}		★		★	★	★		★	★	★
{{bank.bank_name}}	Account documents not provided to Pew.
None of the 50 banks studied by Pew operates in this state.

Bank Name	Total(out of 11)	Disclosure				Overdraft				Dispute Resolution
		Attempts a summary disclosure box but omits key information Identifies the overdraft default option Overdraft penalty fee amount disclosed Overdraft transfer fee amount disclosed				Limited high-to-low transaction reordering Threshold amount to trigger an overdraft No extended overdraft fee Limited number of overdraft fees per day				Arbitration opt-out provision No jury trial waiver clause Small-claims arbitration exemption
		1	2	3	4	5	6	7	8		9	10	11
U.S. Average *	8.4	94	89	100	99	88	78	34	99		60	2	95
{{bank.bank_name}}	{{bank.total_good}}
{{bank.bank_name}}	Account documents not provided to Pew.
None of the 50 banks studied by Pew operates in this state.