Bankers being bankers. Wouldn't it be nice if anyone among the political class actually cared enough to step in? For the umpteenth time, the bankers have no problem slapping those who saved their precious lifestyle.
Instead, two new studies show, banks are charging more, hiding the fees deeper than ever and making it difficult to have charges reversed.
Fees in the latest year totaled $29 billion, according to Moebs Services. And the charges are rising again without customers' awareness, said the advocates.
Notice of pending charges are buried in bank account consumer disclosures that average 69 pages, said Pew Health Group in a report released Friday. For consumers who complain, the banks require “binding arbitration” through industry channels, not independent regulators, a practice that Pew said discourages customers from being reimbursed.
