Next time your company receives its financial statement from your bank, you might want to take a closer look at what you’re being charged for.

According to the latest study by the Government Accountability Office - the investigative arm and watchdog of Congress - researchers were unable to find the fee listings and schedules for over one-third of the nation’s banks, either online or in-branch.

What’s that mean for businesses? Not only it is a hassle trying to figure out whether or not a bank will slap you with a laundry list of hidden fees, but combing through statements line by line might not be enough to root out surprise surcharges.

And if your Finance department doesn’t know exactly what to look out for on bank statements, odds are good your bank might slip something through.

Even though the study was targeted at the consumer level, it’s still worth noting that obscuring such information or making it otherwise difficult to find breaks the “Truth in Savings Act and Federal Reserve Regulation DD,” which requires a financial institution’s feed to be posted clearly.

Until banks get more than a light slap on the wrist for breaking federal lending laws, laying out exactly what a bank charges your company will ensure Finance isn’t being nickel and dimed.

And if all else fails, switching banks is a viable option - most banks are more than happy to make money off of safeguard your company’s finances.

Tags: bank fees, GAO, hidden charges