The Nation - News from June 2, 1986

A coalition of consumer groups called for “truth-in-depositing” laws to force banks to disclose all terms and charges of their accounts. “Full disclosure of all account fees and conditions is vital to consumers’ ability to shop for bank accounts. Consumers must be able to compare prices if they are to have any ability to influence the market,” Alan Fox, legislative director of the Consumer Federation of America, said in Washington. Such information is not readily available at bank branches or by telephone, and is rarely included in advertising, Fox said.