Bill Aimed At Making Bank Switches Easier

Law360, New York (September 20, 2013, 7:01 PM EDT) -- Legislation introduced Thursday into both houses of Congress would make it easier for customers to switch banks by limiting fees and other measures financial institutions can put in place to hold onto customers.

The bill, the Freedom and Mobility in Consumer Banking Act, would block banks from hitting consumers with fees after they've asked to transfer their accounts to a new bank and take other measures to make it more feasible for customers to switch banks.

“It should be easy for consumers to place their money...
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