Updated 05/01/2011 05:33 PM
Schumer Wants Crackdown On Hidden Checking Fees
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Senator Charles Schumer has proposed a crackdown on lengthy checking account applications that often hide or bury fees.
He plans to introduce legislation that would require banks to clearly and briefly describe fees that are current hard to find.
The measure is similar to the so-called "Schumer Box," which highlights interest rates and other fees on credit card applications.
The senator's proposal comes after a new report by Pew Charitable Trusts has found that half of all checking account disclosure documents are more than 100 pages long.