Durbin Calls For Easy-To-Understand Bank Fees Disclosure

Brian Kelly

(KMOX)-Saying that customers have a right to know what they’re being charged, Illinois Senator Dick Durbin is calling on banks to fully disclose their fees on their websites.

Durbin tells KMOX it would be similar to what we find when we buy groceries, “Flip over that can at the grocery store and on the back is a little box with information on it. It tells you about calories and sodium and carbohydrates and all the rest of those things. We need something similar when it comes to banks.

“What I’m pushing for is a standard that was adopted by the Pew Charitable Trust. It’s one page and it spells out the fees the bank charges.”

Durbin is calling on banks to voluntarily adopt the disclosure form and is urging the Consumer Financial Protection Bureau to make it mandatory. He says if those efforts fail, he’ll introduce legislation.

Copyright KMOX Radio





Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Live Inspired
KMOX Podcasts

Listen Live