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CU System
Riverset CU guest blogger addresses free checking fees
PITTSBURGH (5/9/11)--Lisa Florian, director of business development for Riverset CU, Pittsburgh, is author of a blog that warns consumers about so-called “free” checking accounts that contain hidden fees. Florian is a guest blogger for the local Regional Internship Center in Pittsburgh, and posted a blog Tuesday titled “Free Checking Account? Watch Out for Hidden Fees” (Life is a Highway May 6). “You may or may not be aware of a number of regulations within the financial industry that have been passed over the last year or so, which have impacted financial institutions’ ‘lucrative’ stream of fee income as it pertains to overdraft fees,” Florian wrote. “So, the days of FREE checking now seem to be morphing into the days of free checking with fine print and hidden fees. The new regs have forced institutions to find alternative ways to make up for the lost income and free checking has become the target. “A truly free checking account is one with no minimum balance and no monthly fees--or any other hidden fees, period,” she continued, adding, “The bottom line is--read the fine print and be smart with your money so you are not hit with hidden fees.” To read the blog, use the link.
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