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Excecessive Overdraft Fee Articles
December 29, 2017. By Brenda Craig.
Washington, D.C. A new report from Pew Charitable Trusts released on December 20, 2017 documents the burden overdraft fees continue to place on the shoulders of consumers. Although the banking industry has made some voluntary changes regarding overdraft fees Pew reports that American consumers are still paying $14 billion annually in overdraft fees.Read [ Overdraft Fees Chewing Up Consumers ]
November 25, 2017. By Anne Wallace.
Honolulu, HI: Many consumer lawsuits over excessive overdraft fees focus on banks’ practice of reordering withdrawals to maximize what they can charge. The argument advanced by Linda Robinson in Robinson v. First Hawaiian Bank is different and relies on state usury laws. This opens new possibilities in the battle between consumers and banks and may prove to be important as federal financial protection for consumers seems increasingly under siege.Read [ Are Continuous Overdraft Fees Like Illegal Payday Loans? ]
November 10, 2017. By Gordon Gibb.
Los Angeles, CA: Yet another major bank has bowed to litigants enraged over excessive bank overdraft fees, following the announcement of a settlement worth $66.6 million. The bank overdraft fees settlement, designed to end a lawsuit against Bank of America, still requires court approval.Read [ Bank of America to Settle Excessive Fees Class Action for $66.6 Million ]
October 30, 2017. By Anne Wallace.
Washington, DC: On October 24,2017, the Senate voted to overturn a Consumer Financial Protection Bureau (CFPB) rule that limited banks’ ability to enforce mandatory arbitration clauses in consumer contracts. While this change is unlikely to alter the course of existing excessive overdraft fee lawsuits, it will make it much harder for consumers to join class actions against giant financial institutions like Wells Fargo, Capital One or Fifth Third in the future.Read [ It Just Got Harder to Sue Your Bank for Excessive Overdraft Fees ]
October 16, 2017. By Gordon Gibb.
Atlanta, GA: The defendant in an excessive bank overdraft fees lawsuit petitioned an appeals court back in August to compel more than a million Wells Fargo account holders allegedly hit with excessive bank fees to individually pursue a remedy through arbitration, rather than through the courts.Read [ Wells Fargo Now Favors Arbitration in Long-Running Overdraft Fees Lawsuit ]
August 3, 2017. By Gordon Gibb.
Washington, DC: In January, 2015 Capital One resolved a class action lawsuit over excessive bank overdraft fees for $31.7 million (In re: Checking Account Overdraft Litigation, case number 1:09-md-02036, in the U.S. District Court for the Southern District of Florida). And that Capital One excessive overdraft fees lawsuit was not unique: a rather large cross section of the banking and credit union industries have been called to the litigation carpet for excessively high fees, re-ordering transactions to generate even more fees, and so on.Read [ Republican Lawmakers Want to Retract New Consumers Rights to Excessive Bank Fees Class Actions ]
July 19, 2017. By Deb Hipp.
Washington, DC: A consumer protection report has found a correlation between the banks that customers complain about most and the amount of revenue from overdraft fees and insufficient funds (NSF) those banks collect.Read [ Study Finds Consumers Complain Most About Banks With Highest Overdraft Fee Revenue ]
June 13, 2017. By Gordon Gibb.
Chicago, IL: The Telephone Consumer Protection Act (TCPA) and the Federal Debt Collection Practices Act (FDCPA) were enacted to protect consumers from needless harassment over the phone. Common purveyors of such harassment have historically been telemarketers, or debt collectors that often wind up harassing the wrong people over a debt no longer owed, due to incorrect information and the all-too-common practice of flipping debtor accounts between different collection agencies, with vital information lost in the process. However, an increasing number of TCPA complaints are being directed to the highly-competitive banking industry. To that end a TCPA lawsuit has been filed against Fifth Third Bank alleging Fifth Third Bank TCPA violations.Read [ Illinois Plaintiff Launches TCPA Robocall Lawsuit against Fifth Third Bank ]
May 11, 2017. By Deb Hipp.
Tulsa, OK:An upcoming approval hearing will determine whether BOK Financial (BOKF) will pay $7.8 million in a class action settlement with former bank customers who claim they were charged excessive overdraft fees.Read [ BOK Financial $7.8 Million Class Action Settlement Headed For Final Approval ]
April 24, 2017. By Gordon Gibb.
Atlanta, GA: A long-running class action lawsuit alleging banking giant Wells Fargo charged their clients and consumers excessive overdraft fees is attempting to move forward amidst a petition by the plaintiffs that Wells Fargo is not in any position to seek arbitration, as the defendant has tarried too long for arbitration to be appropriate.Read [ Wells Fargo’s Pursuit of Arbitration a Waste of Resources: Plaintiffs ]
- Study Finds That People With Lowest Incomes Pay Most in Bank Overdraft Fees By Deb Hipp (Apr-11-17)
- New Report Shows 10 Banks Account for 67 Percent of Overdraft Fee Revenue By Deb Hipp (Feb-28-17)
- Wells Fargo Under Fire for Excessive Fees Again By Heidi Turner (Sep-14-16)
- Excessive Bank Fees: Did We Learn Anything From the $7.8 Million UMB Settlement? By Gordon Gibb (Aug-22-16)
- Bank Faces $10 Million Fine Linked to Overdraft Fees By Heidi Turner (Aug-11-16)
- Proposed New Rules a Boon for Consumers Facing Excessive Credit Union Fees By Gordon Gibb (Jul-13-16)
- Overdraft Fees Still a Big Payday for Financial Institutions By Heidi Turner (Jun-18-16)
- Does Charging Excessive Overdraft Fees Violate Credit Union Non-profit Status? By Gordon Gibb (May-14-16)
- Bounced Check Re-presentment Lawsuits Are Nothing New By Gordon Gibb (May-11-16)
- Attorneys Investigating Check Re-presentment Lawsuits By Heidi Turner (Apr-17-16)
- Wells Fargo Loses Overdraft Fee Appeal By Heidi Turner (Apr-13-16)
- Check Re-presentment: What It Is and Why It Matters to You By Gordon Gibb (Apr-1-16)
- Check Re-presentment Attorney: Consumers May Be Unknowingly Paying Re-presentment Fees By Heidi Turner (Mar-24-16)
- Consumers Continue to Get Stung by Excessive Credit Union, Bank Overdraft Fees By Gordon Gibb (Mar-14-16)
- Panel Declines Consolidation of Credit Union Lawsuits By Heidi Turner (Feb-22-16)
- Report: Banks Make $6 Billion Off of Fees By Heidi Turner (Jan-23-16)
- Credit Union Excessive Fees Lawsuits Could Be “Tip of the Iceberg” By Gordon Gibb (Jan-14-16)
- US Bank Hoping to Recoup Portion of $55 Million Settlement from Insurers By Gordon Gibb (Dec-29-15)
- It’s Not Just the Banks Charging Excessive Overdraft Fees By Heidi Turner (Dec-18-15)
- “There Are Fees for Everything but Breathing the Air” By Gordon Gibb (Nov-25-15)
- HSBC Overdraft Lawsuit Nets $30 Million Settlement By Heidi Turner (Nov-6-15)
- Financial Institutions Told to Halt Overdraft Fees on College Cards By Heidi Turner (Oct-29-15)
- Class Action Alleging Excessive Bank Overdraft Fees Can Go Ahead By Gordon Gibb (Oct-13-15)
- Los Angeles Credit Union Sued Over Lack of Consent, Overdraft Fees By Gordon Gibb (Sep-30-15)
- Class Action Upheld in Overdraft Fees Lawsuit By Heidi Turner (Sep-12-15)
- Credit Unions Not Immune to Charging Excessive Fees: Attorney By Gordon Gibb (Aug-22-15)
- Court Affirms Overdraft Fees Class Action By Heidi Turner (Aug-5-15)
- Excessive Overdraft Fees: You Can Take That to the Bank By Gordon Gibb (Jul-22-15)
- Consumers Might Want to Take Note of Overdraft Fees By Heidi Turner (Jul-11-15)
- Overdraft Fees Lawsuits Ongoing By Heidi Turner (Jun-24-15)
- Attorney: Excessive Overdraft Fees “Not the Fault of the Customer” By Heidi Turner (Jun-11-14)
- Couple Files Bank Overdraft Fees Lawsuit By Gordon Gibb (Aug-30-12)
- Citizens Bank Settles Overdraft Fee Class Action Lawsuit for $137.5M By Abi Kistler (Apr-25-12)
- Another Bank Overdraft Fees Lawsuit Filed By Heidi Turner (Oct-25-11)
- Utah Bank Sued Over Excessive Overdraft Fees By Charles Benson (Oct-14-11)
- Excessive Bank Overdraft Fees Continue to Rise By Heidi Turner (Oct-6-11)
- Consumer Advocate Groups Lament Excessive Bank Overdraft Fees By Charles Benson (Sep-27-11)
- Banks Face Customers Angry About Overdraft Fees By Heidi Turner (Sep-20-11)
- Judge in Bank Overdraft Fees Case Rules in Favor of Plaintiffs By Heidi Turner (Sep-15-11)
- Bank of America Settles Bank Overdraft Fees Lawsuit By Heidi Turner (Sep-5-11)