Checking Accounts May Have Fewer Consumer Safeguards than Credit Cards

Many consumers assume the terms of their checking accounts, the most widely used financial services product in the U.S., are simple, at least compared to such other payment methods as credit cards. But a study from the Pew Health Group shows that consumers are lost about their checking accounts, resulting in unnecessary overdraft fees and penalties. Pew analyzed 265 checking accounts at 10 of the largest banks and found that the average checking account has a disclosure of 111 pages, an $8.95...Full Story