Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


More Than Half of Top 12 U.S. Banks Now Use Pew's Model Checking Account Disclosures

SunTrust and Others Make Information More Consumer-Friendly

WASHINGTON, Dec. 5, 2012 /PRNewswire-USNewswire/ -- SunTrust voluntarily adopted The Pew Charitable Trusts' disclosure summary for checking accounts today, becoming the seventh of the 12 largest banks in the country now using the simple disclosure box. Currently, this consumer-friendly information is available to over 40 percent of the U.S. market, by deposit volume.

"As more and more banks adopt greater transparency about the fees, terms, and conditions that apply to accounts, consumers are able to educate themselves, understand the products they are using, and comparison shop to find the best product to meet their needs," said Susan Weinstock, director of Pew's Safe Checking in the Electronic Age Project. "With more educated consumers, we hope other banks will follow suit and adopt an easy-to-understand format for their information."

SunTrust is joined today by Suncoast Schools Federal Credit Union and UW Credit Union in adopting the model disclosure form created by Pew. This has guided many financial institutions in making their checking account terms and fees more transparent and easier for consumers to understand.

Until recently, most financial institutions did not make key information that is relevant to consumers understandable or easy to find, such as overdraft options and fees, which can maximize the cost to the consumer. This issue was exacerbated by the length of the disclosure documents. Pew's research, Still Risky: An Update on the Safety and Transparency of Checking Accounts, found that among the nation's 12 largest banks, these documents have a median length of 69 pages, making it difficult for consumers to comparison shop for an account that best meets their needs. Pew's model disclosure box serves as a tool for consumers to assess different types of accounts and banks by summarizing long, complex disclosure documents into a shorter, standardized form. 

"At SunTrust, we are focused on lighting the way to financial well-being for existing and potential clients," said Whitney Stewart, Mass Market Segment & Value Added Services Executive at SunTrust. "Providing clear, concise information about our products and services in a more standardized format aligns with that purpose."

Pew also urges the Consumer Financial Protection Bureau (CFPB) to use the data collected through the agency's Request for Information and Still Risky to study the impact of key banking practices on consumers and to enact reforms requiring financial institutions to:

  • summarize information about checking account terms and fees in a concise, uniform format;
  • provide account holders with clear, comprehensive terms and pricing information for all available overdraft options;
  • make overdraft penalty fees reasonable and proportional to the financial institution's costs in providing the overdraft loan; and
  • post deposits and withdrawals in a fully disclosed, objective, and neutral manner that does not maximize overdraft fees.

Bank of America, Cape Cod Five Cents Savings Bank, Capital One, Chase, CitibankEastman Credit Union, Fifth Third Bank, Inland BankNorth Carolina State Employees' Credit Union, Pentagon Federal Credit UnionTD Bank, Town and Country Bank, University of Illinois Employees Credit Union, Webster Bank, and Wells Fargo all have voluntarily adopted Pew's model disclosure over the past year.

The Safe Checking in the Electronic Age Project aims to restore transparency, fairness, responsibility, and free market principles to one of the most common consumer financial products – the checking account.

The Pew Charitable Trusts is a nonprofit organization that applies a rigorous, analytical approach to improve public policy, inform the public, and stimulate civic life.

SOURCE The Pew Charitable Trusts

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
Cryptocurrencies have gained traction in the past half-decade for a variety of reasons. Bitcoin has become the most popular cryptocurrency in the world due to its sudden rise in value and acceptance within the international marketplace. You might be wondering: What does cloud computing...
HP charts a better path to simplified, just-in-time, and pan-IT support improvements -- despite dynamic and complex IT environments. Much of the attention to coping with mega IT challenges such as cloud, bring your own device (BYOD), mobile applications, and big data focuses on adopti...
The IT infrastructure of modern businesses require a number of seemingly never-ending cycles to track assets. As these assets go through different stages of usefulness or functionality, IT teams must constantly manage the process, which takes them away from other more important tasks a...
Moscow-based OpenBank, one of the largest private financial services groups in Russia, has built out a business intelligence capability for wholly new business activity monitoring benefits. The next BriefingsDirect deep-dive big data benefits case study interview explores how Moscow-b...
Don’t emphasize network security at the cost of endpoint security; the two can be integrated and work hand in hand. The result is a safer, more secure business ready for the challenges of the future.
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE