Defend Your Dollars is the website of the Consumers Union Financial Services Campaign, where we support reforms to the financial marketplace to curb bad practices by banks and lenders.
BofA dropped the debit fee!
Your voice was heard! Bank of America announced that it will not charge its proposed $5 monthly debit fee.
So, stop and give yourself a pat on the back.
Help us pre-empt new fees with a quick "Thank you" message to Bank of America's CEO -- "Thank you for dropping this fee, but don't plan on gouging me in a different way for holding my money for me."
Credit Cards
Congress and regulators -- as well as individuals -- have an important role in curbing credit card market misbehaviors. Ensure that you have all the information you need to avoid getting trapped by debt.
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Credit Reports
Having good credit means you should have more options to borrow money at the lowest cost and from the best lenders. It also means that others who look at your credit are less likely to turn you away or penalize you.
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Debt & Loans
Payday loans, car title loans, refund anticipation loans and private student loans... Find out how you can minimize your debt and avoid common traps.
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Financial Reform
During this growing financial crisis, the government’s intervention and regulatory restructuring should include protections for taxpayers and consumers.
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Mortgages
Foreclosures hurt the families who lose their homes, neighbors who live nearby, and all homeowners by driving down housing values. We need strong new laws to make all loans fair.
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Payments
Paying with a debit card, gift card or prepaid card might not give you the protection you expect. CU exposes bad practices and advocates for improvements.
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Privacy
Eligibility: Currently applies to identity theft victims, including persons who receive a notice of a security breach of computerized personal information. Beginning September 1, 2008, all consumers will be eligible for the freeze. Fees: No fees for identity theft victims or seniors aged 65 years and older. Once all other consumers become eligible in September 2008, they will pay $10 to place the freeze, lift it temporarily, or remove it altogether. Effective date of law: July 24, 2005 for identity theft victims; September 1, 2008 for all consumers Permanent freeze remains until removal requested by consumer. Copy of Washington's security freeze law Instructions for using Washington's security freeze law from WA's Attorney General