Banking Fees Are Rising And Often Undisclosed

Banks are failing to provide consumers with information about fees on savings and checking accounts even though federal rules require such disclosures. Some of the invisible fees have climbed substantially in recent years. The average overdraft fee, for instance, increased 11 percent from 2000 to 2007. Staff made undercover visits to 185 branches of 154 depository institutions throughout the country and were unable to get comprehensive lists of checking and savings account fees at more than a one-fifth of the locations. The information was not available on the Web sites of half of the institutions.