Junk Fees

Should banks be allowed to charge you a fee just to check your account balance? In this episode of Small Print Made Simple, Daynor unpacks the legal jargon behind one of the most frustrating practices in personal finance: junk fees.

According to Section 1034(c) of the Consumer Financial Protection Act, banks and credit unions are legally required to provide you with access to your own account information—without charging you for it. But some institutions still try to hide behind complicated language and misleading fee labels.

Daynor breaks it all down with the help of Jargon Man, translating the fine print and explaining why these types of fees are more than just shady—they’re likely illegal. At Possible, we never charge junk fees, whether it's for accessing your info, making a payment, or missing one. Because financial transparency should be the standard, not the exception.

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Transcription

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