SunTrust Banks (STI) in Atlanta is the latest bank to adopt a simplified disclosure notice on its retail checking accounts.
The disclosure is based on recommendations from Pew's Safe Checking in the Electronic Age Project and provides a "simplified, consumer friendly format for information regarding key fees and policies," the $169 billion-asset company said Wednesday.
SunTrust joins Bank of America, (BAC), Fifth Third (FITB), JPMorgan Chase (JPM) and others that in recent months have started to
Several have partnered with Pew Charitable Trusts, which developed a model disclosure form last year, while others have used Pew's disclosures as a starting point for designing their own.
