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Wednesday, April 18, 2012

Second Big Bank, TD Bank, Simplifies Checking Disclosures | Ann Carrns, New York Times

I don't mean to promote big banks over smaller community banks or credit unions. But I think this article reported some good news about a trend, I hope, of banks getting more customer-friendly in how they provide information.

Carrns writes:
Another big bank has joined the “simple checking disclosure” movement advocated by an arm of the nonprofit group Pew Charitable Trusts. TD Bank has adopted a Simple Checking Guide, which includes information on minimum deposits, overdraft fees and the bank’s policy on processing payments and debits.
The bank joins Chase, which last year worked with Pew to adopt a simplified “plain language” format for its disclosure form.
The links in the article go to other sites that provide more details on simplifying forms and information.

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