Table of Contents

Switching banks costs more than just headaches for consumers
A new report from Consumers Union looks at the obstacles faced by consumers who decide to switch banks. Comments: 0

Students caught between banks and universities
U.S. Public Interest Research Group (US PIRG) has released a report that explores the relationship between banks and universities, including how partnerships between the two to provide student aid disbursements or student ID cards may end up costing students. Comments: 0

Reward for whom? Credit card rewards cost poor consumers
A report from the Federal Reserve Bank of Boston illustrates how low-income consumers are paying dearly for wealthier consumers rewards cards. Comments: 1

Spanish-speakers in Louisiana struggle to gain access to financial services
Appleseed Louisiana has released a study focused on immigrant banking experiences in the New Orleans area. The report encourages area banks and credit unions to adopt policies and practices that will better meet the needs of Latino immigrants. Comments: 2

Overdraft fees: How to beat the bank
Video report of one man's war with Wells Fargo about overdraft fees. Comments: 0

Forced arbitration ubiquitous in consumer contracts
A report from Public Citizen reveals that mandatory binding arbitration clauses, or “forced arbitration,” are prevalent in consumer contracts. Seventy-five percent of companies in eight industries used forced arbitration, according to the report. Comments: 2

Prepaid cards: New report finds fees, gotchas
A new report finds that upon close examination, prepaid debit cards are laden with numerous types of fees and other gotchas. Comments: 4

Short-term payday loans force customers to quickly re-borrow
The Center for Responsible Lending (CRL) has issued a report on payday loans which finds that three quarters of loan volume in the industry is generated by borrowers who, after meeting the short-term due date of the loan, must re-borrow before their next pay period. Comments: 0

“Day of Action” highlights impact of recession on communities
From Chicago to San Francisco, Birmingham to Detroit and in more than 50 cities across the country, the National Community Reinvestment Coalition (NCRC) held public rallies and events at 54 locations across the U.S. calling for greater accountability and integrity in the U.S. financial system. Comments: 0

FDIC study: Serving the unbanked and underbanked
In the first national survey of banks' efforts to serve unbanked and underbanked individuals and families in their market areas, the FDIC found that improvement may be possible in certain areas. Comments: 1