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The new federal consumer watchdog agency, for instance, is proposing Wednesday that banks include a disclosure box for overdraft fees on checking account statements.
Community banks also tend to have lower fees on checking accounts than bigger banks, which is a great trade off.
Thing Five: Overdraft Oversight: The government's new consumer protection watchdog is considering looking into how banks are charging overdraft fees on checking accounts, penalties that bring the banking inudstry a cool $30 billion per year.
Overdraft fees on checking accounts need to be reasonable and proportional.
Even the much-maligned debit usage charges have effectively been bundled into higher monthly fees on checking accounts.
In the case of a bank, this might be through higher fees on checking accounts, for example.
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Besides, he said, the airline fees on checked bags were encouraging more people to carry bags on board.
Overhead bins are being forced to accommodate too much stuff these days, as passengers try to avoid paying those airline fees on checked bags.
Over the last few years, the airlines have been adding and increasing fees on checked bags, exit row seats and more, much to the benefit of their bottom lines.
WALL STREET JOURNAL Bank of America Considers New Fee | After retreating from a $5 debit card charge last year, Bank of America is now considering changes that could require some customers to pay a monthly fee on checking accounts, The Wall Street Journal reports.
An analogy would be if the banking authorities allowed banks to impose a quarter of a percent fee on checking accounts in order to market checking accounts to new customers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com