Feds say bank overcharged millions of customers with illegal fees
A closed account should be just that -- closed, not open to continuing fees and charges.
"Junk fees creeping across the economy," new report finds.
Regions Bank is being ordered to return at least $141 million to customers harmed by its surprise overdraft fees. It will have to pay another $50 million into the Consumer Financial Protection Bureau’s victims relief fund. The CFPB said that from August 2018 through July 2021, Regions charged customers
Citigroup is the latest – and the largest – bank to eliminate overdraft fees. Citi said yesterday it would eliminate the $34 overdraft charge this summer. Citi joins Ally Financial of Detroit and Capital One of McLean, Virginia, which scrapped overdraft fees earlier, as political pressure from progressive Democrats like Sen. Elizabeth
Overdraft fees, resort fees, service fees and other ill-defined charges are in the sights of the Consumer Financial Protection Bureau (CFPB). It’s putting together a set of rules aimed at eliminating or reducing fees that don’t reflect the actual cost of providing a service – “junk fees,” in other
Capital One Bank has set off a new chapter in the continuing squabble over overdraft fees, the expensive and highly profitable fees banks charge when customers’ accounts dip below zero. Democratic Senator Elizabeth Warren called on other banks to follow suit and regulatory agencies threatened action. The bank’s CEO,