Friday, 29 May 2015

Pew: Banks Need to Continue to Step Up Compliance

From National Mortgage Professional Magazine –

“The Pew Charitable Trusts has released its third evaluation of checking account disclosure, overdraft, and dispute resolution practices at the nation’s largest retail banks, finding mixed results. Some banks continued to improve, particularly regarding disclosure, but the prevalence of harmful overdraft fees and account terms showed little change or grew worse. The report recommends that the Consumer Financial Protection Bureau (CFPB) issue comprehensive rules to ensure that checking accounts are safe and transparent for all consumers.”

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