Bank Disclosure of Account Terms
April 11, 2008

A recent government report found that banks are failing to properly provide consumers with information about fees on savings and checking accounts.   In the report, staff members of the Government Accountability Office (GAO) made undercover visits to 185 branches of 154 depository institutions throughout the country and were unable to get comprehensive lists of checking and savings account fees at more than one-fifth of the locations.  This information was not available on the web sites of half the institutions.  Undercover workers were also unable to obtain account terms and conditions such as information on when deposited funds are accessible and how overdrafts are handled at one-third of the branches visited. 

If you opened a checking or savings account at a bank and did not receive a disclosure of the terms and conditions of your account, or if you received an inaccurate disclosure and were subsequently charged an improper fee, we would be interested in talking with you.  To contact us, please submit a form, This email address is being protected from spam bots, you need Javascript enabled to view it , or call our Washington, D.C. office toll-free at 877-337-1050.