USA Today:
Even as regulators crack down on abusive mortgage and credit card practices, another type of lending threatens to mire consumers in a credit trap.
Bank of America wins appeal on overdraft fees - Los Angeles Times
Consumerist - Bank Of America Refunds $315 In Overdraft Fees Thanks To EECB - Ba...
Bank of America wins appeal on overdraft fees - Los Angeles Times
Consumers Vent on Overdraft Fees - WSJ.com
The Scandal of Overdraft Fees -- Seeking Alpha
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Wow, who is in control, congress or the Federal Reserve? Why does congress have the ask the Fed for anything. Can't Congress just tell the Fed to get rid of the excessive fees?
A couple of years ago my sister got hit with fifty overdrafts transactions fees from WF. At $34 each time 50 it came to $1700 for a weeks worth of purchases. Even her McDonalds $4 breakfast cost her $38. Her Starbucks $37 coffee. She did not realize her account had insufficient funds. I ended up cutting my sister a check for $2000 to cover the overdraft fees and have a few hundred dollars in her account to keep her going. She complained to the bank manager and I complained to the bank manager. All we could get out of them was that the bank was just trying to help us and we could not have any overdrafts cancelled. I complained to the Calif Attorney Gen but received a reply saying the Federal govt took away the right of the individual states to fight the banks and help the consumers. The letter said I had to go to the Comptroller of Currency. Under Bush this agency was told to sit on their hands and do nothing.
Courtesy overdrafts are a scam. My son's bank tried them on him. We went to the bank and closed the accounts. We later filed complaints with the banking commission and the attorney generals consumer fraud division. They bank lost six accounts from our family. We sent a letter to the CEO of the bank letting him know he had lost customers for his little temporary 50.00 in charges.
Don't take any crappola from these jerks.
Dems should stop "asking" and start "demanding."
They won an election, remember?
The man (or woman) who first wrote, "the love of money is the root of all evil" was prescient.
Now multiply that 305 million times.
WAAAAH !!!!
This is so unfair. Why doesn't someone in the government take care of us??? Can't they just put a person at each place you can use your ATM card or write a check and have them check your balance for you? Maybe if you are a little short the government could give you a little cash to make up the difference???
This is just like this morning when I went to Starbucks and my coffee burnt my mouth. All day I walked around with my tongue feeling like sand paper !!!!! Where was the government that should have told me to wait? Why did the government let Starbucks make such hot coffee in the first place? I know the government made Starbucks print cups that say caution coffee is hot - but who reads those things anyway?!?!?
Maybe the government should just do away with money - that would solve the whole overdraft fee problem. The government can just give us everything we need like it will do with our health care soon.
I love government - it takes such good care of us and keeps all the bad things away...
Government is our friend.
"Can't they just put a person at each place you can use your ATM card or write a check and have them check your balance for you?"
Yes, they do it with software. You know, computers, automation - the banks are perfectly capable of creating the software such that a transaction is DECLINED rather than paid automatically when there's not enough money to cover it. But that way they couldn't gouge their customers.
I will be so glad when the banks and federal reserve is KICKED TO THE CURB totally and out of our lives forever. Their day is coming and I will clapped and rejoice on that blessed day,
I will be so glad when the banks and federal reserve is KICKED TO THE CURB totally and out of our lives forever. Their day is coming and I will clapped and rejoice on that blessed day, the butt holes!
Our society seems to think that its people are incapable of thinking on their own.
Most people have to be directed to knowledge. They won't seek it out on their own.
Most people wouldn't know knowledge if it bit them on the @zz -
I was bitten by my ATM overdraft protection plan. Once bitten. Twice shy. This is an avoidable charge if you know what you have in your account. I check it every morning on the internet.
I check mine every HOUR on the internet cause I've gotten burnt once myself and refuse to let it happen again. Once burnt, twice learnt is my motto!
I remember, in Germany when you draw more money out than what you have in the account, they automatically charge you the higher interest as they do with loans. Here it is big business to rip off
consumers.
Dems ask the banks LOL, they just passed the biggest scam of all, the new credit card revision they call "sweeping changes." Who believes that, all in favor of banks. Our polticians are a joke, vote them out of office and get new ones in only for 4 years and out they go again. Experience, forget it, the only experience they have mastered is to stuff their pocket books.
just tell them you don't want any overdraft--end of that problem
Not sure where you live, but one cannot join a credit union unless it is offered by your job. Usually, credit unions are a benefit to working for the state., i.e. public university system, or the government. I would love to have that option to join because I used to be a member when I worked for the state.
Wrong. Many credit unions only require that you live in the local area.
Banks = casinos.
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Posted: 07- 8-09 10:24 PM