Credit Unions are growing rapidly, fueled by low fees and lower interest rates on loans. But this growth has come with more attention from regulators and commercial banks who feel they are at a competitive disadvantage.
Mandatory payroll cards force employees to consent to a bank fee structure as a condition of employment.
For 4.6 million Americans, there is a fee just to access their own paycheck. As of 2012, more than $120 million in payroll card fees are suspected to have been collected, per a Federal Reserve study. These fees can range from -- for one provider -- $1.75 per ATM withdrawal, $2.95 to request a paper-based statement of charges, $6 to