First Horizon National (FHN) in Memphis and Sovereign Bank in Boston have joined many of their competitors in making it easier for customers to understand the fees on their accounts.

The Pew Charitable Trusts has acknowledged the banks for introducing simplified, plain-language disclosures of checking account terms and fees. Both the $79 billion-asset Sovereign and First Tennessee Bank, a subsidiary of the $25 billion-asset First Horizon, have joined more than 20 financial in adopting the disclosure guidelines laid out by Pew, which are meant to provide a short, readable summary of account terms.

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