Sad Findings of New Checking Account Study

by Angela Nazworth | June 8, 2012 11:10 am

Sad Findings of New Checking Account Study

New research finds that checking accounts from the nation’s 12 biggest banks and 12 largest credit unions are infuriating many consumers.

According to a new study from the Pew Safe Checking in the Electronic Age Project, many consumers are saddled with hidden fees and confusing documents that accompany most checking accounts, CNNMoney[1] reports.

The study focused on the information from 274 checking accounts offered by financial conglomerates such as Bank of America (NYSE:BAC[2]), PNC Financial Group (NYSE:PNC[3]) and JPMorgan Chase (NYSE:JPM[4]).

Here’s a brief look at a few noteworthy findings.

You can learn about what else customers had to say about big banks and credit unions at Pewtrusts.org[6].

Endnotes:
  1. CNNMoney: http://money.cnn.com/2012/06/08/pf/checking-accounts/index.htm
  2. BAC: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAC
  3. PNC: http://studio-5.financialcontent.com/investplace/quote?Symbol=PNC
  4. JPM: http://studio-5.financialcontent.com/investplace/quote?Symbol=JPM
  5. still cause problems for many consumers: http://investorplace.com/2012/04/overdraft-fees-get-another-look-from-regulators/
  6. customers had to say about big banks and credit unions at Pewtrusts.org: http://www.pewtrusts.org/our_work_report_detail.aspx?id=85899396977

Source URL: http://investorplace.com/2012/06/sad-findings-of-new-checking-account-study/
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