Overdraft Policies Lack Clarity, Pew Says

By  |  June 10, 2012
 | 

Banks are failing to deliver clear and effective policy disclosures, pricing terms, and options for dispute to their accountholders, according to the Pew Charitable Trust.

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    The research group updated its research on U.S. banks’ overdraft policies in a new study released last week, titled Still Risky: An Update on the Safety and Transparency of Checking Accounts.

    “This report, Still Risky, continues the work of [April 2011 report] Hidden Risks by tracking the practices and fees that impact Americans in the daily use of their checking accounts,” a summary explains. “Pew’s research again focused on patterns that impose hidden, unnecessary, and potentially dangerous risks to consumers.”

    Read the full report here.


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