With banks and credit card companies collecting more money than ever from customers, the Center for Economic and Entrepreneurial Literacy reminds consumers that “economic illiteracy is at the heart of our current economic crisis.”

A CEEL survey conducted in December of 2008 found that a majority of those surveyed were unable to answer simple questions about borrowing, interest rates and even basic math. Our survey was referenced this week in the Triangle Business Journal in North Carolina, the Baltimore-Washington Corridor Business Magazine, and on the MSN.com Money Blog as widespread media coverage of the economy and of tighter regulation on the financial industry continues.

While some may be unknowingly hit by overdraft fees and increases in bank and credit card rates, a majority of consumers can prevent unnecessary charges from their financial institution by taking the time to read the fine print, assess their financial options, and keep within a budget.