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Consumer Reports is an independent nonprofit organization that works for a fair, safe and transparent marketplace.

Since we were founded as Consumers Union in 1936, we have advocated for the rights of all consumers. Now, we are united under the Consumer Reports name, bringing together our trusted testing, research, journalism, and advocacy.

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CU letter to the House regarding Bank of America Debit Fees

Bank of America announced that beginning in 2012 it will charge consumers a five dollar monthly fee for making debit card purchases. For the millions of customers who routinely shop with their debit cards, the $5 monthly fee will add up to an extra $60 a year paid to Bank of America, money that many households need for groceries or utilities.