LAWSUITS NEWS & LEGAL INFORMATION
Excessive Overdraft Fee Lawyer Interviews
March 31, 2021. By Anne Wallace.
Read [ Insufficient Funds Charges Threaten Small-Balance Accountholders ]
Albany, NY Excessive bank fees that are based on insufficient funds (NSF) charges may pose a greater threat to checking accountholders than overdraft fees. Recent lawsuits recognize that, without protections based largely in state contract law, consumers have little protection from NSF fees that result when checks or electronic payments that are presented and re-presented multiple times without the accountholder’s permission.
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 ]
March 24, 2016. By Heidi Turner.
Washington, DC: Consumers who frequently write checks know there are NSF fees charged when there are insufficient funds in their account to cover a transaction. What they may not know is that instead of their check simply being declined, it can be sent to a check re-presentment (also known as check recovery) company for processing, and the company might be illegally charging them re-presentment fees. Tycko & Zavareei LLP is investigating a possible lawsuit against some companies involved in the re-presentment process, for charging fees without adequately notifying consumers.Read [ Check Re-presentment Attorney: Consumers May Be Unknowingly Paying Re-presentment Fees ]
July 11, 2015. By Heidi Turner.
Read [ Consumers Might Want to Take Note of Overdraft Fees ]
Los Angeles, CA When it comes to complaints about excessive overdraft fees, most news has covered lawsuits filed against the big banks. In truth, any financial institution that charges overdraft fees could be improperly charging their customers for overdraft. Customers with accounts at credit unions and smaller banks should also keep an eye on their accounts, and be sure they know how much they’re charged for overdraft protection.
June 11, 2014. By Heidi Turner.
Read [ Attorney: Excessive Overdraft Fees “Not the Fault of the Customer” ]
New York, NY Customers who have paid excessive bank overdraft fees may not realize right away that their transactions have been reordered. In fact, many customers may not realize they are paying excessive bank fees until they hear about their bank reordering transactions for other customers. Stephen Fearon, attorney at Squitieri & Fearon in New York, says lawsuits are being filed against banks that allegedly reordered customer transactions to generate profit without telling customers they would do so.