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The Cross Check project is led by First Draft News, a not-for-profit which counts Google's News Lab as a founding partner, and describes its mission as the development of tools and training to "improve practices in the ethical sourcing, verification and reporting of stories that emerge online".
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Another fact-checking project in Italy was also funded, receiving €47,000.
Susan Weinstock, director of the Safe Checking project, said that problem could be remedied by adoption of uniform disclosures.
The Safe Checking project first analyzed bank disclosures in detail last year, and added credit unions to the report this year.
With the addition of Bank of America, five of the 12 largest banks have adopted the simplified format, Susan Weinstock, director of the checking project, said in a statement.
Susan Weinstock, director of Pew's safe checking project, said the confusion appears to stem from the way banks present overdraft options to customers.
For the report, "Banking on Arbitration," Pew's safe checking project examined checking account agreements at 92 of the country's largest banks and credit unions, as measured by deposits.
Pew's Safe Checking project supports the requirement of a standard checking disclosure, and it has designed a model form that has been adopted, at least in spirit, by several banks.
Susan Weinstock, director of the Pew Charitable Trust's safe checking project, says prepaid debit cards can be a good deal for some consumers who are leery of unexpected overdraft fees, which average about $35 with a regular bank account.
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