Annual Fed Report tracks bank fees and services.

Financial Update, July, 2003

Each year the Federal Reserve Board of Governors prepares a report on changes in the cost and availability of certain retail banking services. The 2003 Annual Report to Congress on Retail Fees and Services of Depository Institutions, based on surveys conducted in June 2001 and June 2002, finds a slight trend toward less service availability and some evidence of rising fees. The results also show that multistate organizations generally charge higher fees than do single-state organizations.

Availability changes

Of the 24 measures that may be considered indicators of service ability (factors like the number of banks that offer a particular kind of checking or savings account), six changed a statistically significant amount, and five of these measures...

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