The U.S. Public Interest Research Group and the Consumer Federation of America released a survey report June 8 accusing banks of charging "exorbitant" fees for consumer checking and savings accounts.
The two organizations surveyed 300 banks in 22 states and found that fees for consumer accounts had jumped 28% between 1990 and 1993.
Edmund Mierzwinski, the Public Interest Research Group's consumer program director, accused bankers of having a threetier strategy to cheat consumers: higher fees, higher minimum balance requirements, and new types of fees.
Last week, the groups' charges were aired on a national forum as the "Today" show's Bryant Gumbel interviewed Mr. Mierzwinski and Donald Ogilvie, executive vice president of the American Bankers Association.
Bryant Gumbel: What do you think …