SunTrust is following in the footsteps of other big banks by introducing simpler fee-disclosure forms for its checking accounts.
“At SunTrust, we are focused on lighting the way to financial well-being for existing and potential clients,” said Whitney Stewart, a SunTrust executive, in prepared remarks. “Providing clearer, more concise information about our products and services in a more standardized format aligns with that purpose.”
Like most major banks, SunTrust created these disclosures based on recommendations from Pew’s Safe Checking in the Electronic Age Project. These disclosures are two pages long (per checking account) and they present common fees and bank policies in an easy-to-understand fashion.