Schumer tells banks to be upfront about new fees
Quick ReadIn letter to Federal Reserve, the New York senator asks that customers are given "clear and transparent guidance" about potential new fees and not penalized if they choose to change banks when notified of the changes.
Photo credit: Getty Images | U.S. Sen. Charles Schumer (D-N.Y.) is asking the Federal Reserve chairman Ben Bernanke to make sure that any bank fee changes be explained clearly to customes. (June 23, 2010)
The days of free checking may be numbered, Sen. Charles Schumer said Sunday, and he wants to make sure bank customers are aware of possible new fees.
In a letter to Federal Reserve chairman Ben Bernanke, Schumer (D-N.Y.) called on the Fed to make sure customers are given "clear and transparent guidance" about potential new fees and not penalized if they choose to change banks when notified...
