CUs to be included in New Jersey bank fee study

HIGHTSTOWN, N.J. - The Fed's bank fee study might be a dead issue, but it's alive and well in New Jersey. Not only that, the state Department of Banking and Insurance has agreed to include all New Jersey credit unions in its next survey of banking fees which is due to be published in July. Last year, Gov. Christine Whitman asked the DBI to conduct a survey of banking fees across the state. That recently released survey did not include credit unions. Since that time, Credit Union Affiliates of New Jersey contacted the department to ensure that credit unions would be included in future studies. We thank the Department of Banking and Insurance for working with CUANJ to make sure credit unions are included in the statewide survey of banking fees, said CUANJ President/CEO Russell Clark. Peter Yeager, director of government and public affairs for CUANJ commented that with credit unions now included, consumers will have a complete picture of serviced offered by the financial services industry in New Jersey. - ekingoff@cutimes.com

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