“An earlier version of “Checks and Balances, Stars and Stripes,” a report on checking account practices of banks and credit unions on military installations, included several incorrect or incomplete statements and data points regarding transaction ordering. We take accuracy very seriously. The original report and accompanying news release, published on October 28, were revised and published on November 7. View the updated report and release. The specific changes are presented here. Service members, like all consumers, need access to concise, easy-to-understand documents that lay out the key terms, conditions, and fees associated with their checking accounts. Clarity and transparency are especially important for Americans and their families serving in the military, who face unique challenges associated with repeated deployments and frequent relocations. This report highlights the account practices that Pew has identified as having a significant impact on account holders and documents their prevalence among banks and credit unions located on military installations. Institutions were evaluated on how well their disclosure, overdraft, and dispute resolution practices align with Pew’s policy recommendations.”
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