National Consumers League

Your Money

With an ever-changing marketplace, getting the biggest—and smartest—bang for your buck is a tougher challenge than ever these days. We work across a wide array of issues to help you build and protect Your Money.

Coalition urging consumers to walk away from Wells Fargo

NCL is part of a broad coalition of pro-consumer groups are launching a national campaign targeting Wells Fargo Bank over its illegal practices, and its denying customers and employees their constitutional rights under the 7th amendment to the U.S. Constitution, to hold businesses that engage in illegal practices accountable in a court of law. 

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Wall Street CEO pay is outrageous, needs stricter regulations

money_hands_icon.jpgWritten by Elese Chen, NCL Intern

According to Fortune, the combined CEO salaries of America’s six biggest banks totaled a whopping $123 million in 2015. With an average pay of $20.5 million per executive, that is estimated to be 455 times the salary of the average American worker. While millions of Americans are still struggling to overcome the financial crisis, Wall Street CEOs have continued to stockpile greater wealth over time. The average pay for Wall Street CEOs rose nearly 10 percent last year in contrast to the meager 1.6 percent increase in wages for the average American worker. 

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The impact of overdraft fees on consumers

overdraft_fees_icon.jpgBy Hannah Rudder, NCL Intern

More than three quarters of the largest U.S. banks allow their customers to overdraw their accounts when they lack sufficient funds in order to cover the transaction for a fee of $35, on average. The Consumer Financial Protection Bureau (CFPB) found the median transaction amount of purchases that resulted in an overdraft fee was only $24. Additionally, the CFPB study revealed that 18 percent of account holders pay the vast majority of all overdraft fees triggered by debit cards, checks, and automated clearing house electronic charges.  

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