New Consumerism Stalks Industry; Banking Issues Seen as Top Concern of Public Interest Groups

By Gross, Laura | American Banker, December 10, 1984 | Go to article overview

New Consumerism Stalks Industry; Banking Issues Seen as Top Concern of Public Interest Groups


Gross, Laura, American Banker


It shouldn't surpise anyone that a new consumerism is ballooning in response to changes in bank products, policies, and fees.

After all, deregulation of any industry that is highly visible and has widespread patronage is bound to generate consumer concern. (And commercial banking is nothing if not highly visible and widely patronized.)

The only surprise will come if the consumerist balloon bursts before advocacy groups have made an indelible mark on further legislative and regulatory developments.

The Consumer Federation of America, for example, "has no higher priority than banking issues in the coming year," according to Stephen J. Brobeck, executive director.

Also, the entire public interest movement is shifting its legislative resources into the banking area, one source revealed. This movement is represented on a local and national level by "public interest research groups" or "pirgs," as they are colloquially known.

The Consumer Federation, Mr. Brobeck asserts, intends to take positions on the whole array of banking issues that will face the next Congress and "vigorously advocate those positions."

Among the issues are limits on the time banks may hold checks before allowing consumers access to funds, truth-in-savings, disclosure of bank fees, possible limit on bank fees, and lifeline financial services, which are those provided at cost or below cost to individuals who cannot afford the going rate.

A few states have already passed or are considering legislation in regard to some of these issues, several of which were discussed during the last session of Congress. The Yankelovich Study

Further evidence of the arrival of a new consumerism is found in the results of Yankelovich, Skelly and White's new report on "Financial Services Policy in the 1980s," the result of in-depth interviews with 150 of the nation's leading public opinion makers. Yankelovich is one of the world's largest and most diversified marketing and social research companies.

The research found that "consumerism is the next area of regulatory concern," according to William A. Wilson 3d, vice president in Yankelovich's policy planning group, which authored the survey.

"Consumer issues -- while not top-of-mind for leaders -- are an area of concern," explains Mr. Wilson. Among the opinion leaders who participated in one-to-two-hour personal interviews were congressmen, federal regulators, state regulators and legislators, news media editors, corporate executives, and public interest activists.

Interestingly, Mr. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

New Consumerism Stalks Industry; Banking Issues Seen as Top Concern of Public Interest Groups
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.