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.
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.”
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