Chase has unveiled a revised summary guide for Chase Total Checking that makes its terms and conditions easier to understand for consumers. Chase collaborated with the Pew Health Group’s Safe Checking in the Electronic Age Project to develop a simple disclosure form.
““Our research shows the median length of the checking account disclosures at the nation’s ten largest banks is 111 pages. This volume of highly technical information makes it difficult for consumers to know how their checking account operates,” said Susan Weinstock, director of Pew’s Safe Checking in the Electronic Age Project. “We applaud Chase for being the first large bank to adopt our model disclosure box and are urging other financial institutions to do the same.”