Webster Bank Makes Policies and Disclosures Easier to Understand
WATERBURY, Conn., May 14, 2012 /PRNewswire/ -- Webster Bank, a leading bank serving businesses and consumers from Westchester County, N.Y., to Boston, Mass., today announced the adoption of a concise, transparent way for businesses and consumers to understand policy and fee disclosure information.
"Webster is adopting straightforward, easy-to-understand language and statement formats for all of its consumer and small business products," said Michelle Crecca, executive vice president and chief marketing officer at Webster. "We are also expanding the 'best practice' format from the Pew Safe Checking in the Electronic Age project so that customers can see all of our products lined up side-by-side. We believe this is a more convenient format that will help our customers make more informed choices on how our products work and allow them to make sound financial decisions. This is just another example of our Type W Personality."
Webster's new four-page disclosure reflects the recommendations from Pew in which its research shows that the median length of bank disclosures for checking accounts is more than 100 pages which often go unread.
The new guides to Webster accounts are available now in branches and online at:
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 168 banking offices, 466 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
SOURCE Webster Financial Corporation