State tax refunds taken back, Georgians left with overdraft fees
Posted by admin / Under Overdraft
The state Department of Revenue deposited 2010 tax refunds into Georgians' accounts in the last few days then withdrew them, leaving people with strings of bank charges for overdrawn accounts. Related Tax-free holiday no longer a priority .More Atlanta area news » Immigration attorney accused of fraud Firefighter dies in crash Public concerns spur Alpharetta to reconsider MetLife project DeKalb wants to create special police tax .Robert Freeman of Valdosta said he noticed his 2010 refund was in his account Sunday, and then it was missing today. "It happened to me and my brother-in-law," Freeman said. "Unfortunately, he spent his...
Published on Saturday 19th of May 2012 03:14:16 PM
Judge orders Wells Fargo to pay back $203M in fees (a must read!)
Posted by admin / Under Overdraft
"In a decision handed down late Tuesday, U.S. District Judge William Alsup accused Wells Fargo of "profiteering" by changing its policies to process checks, debit card transactions and bill payments from the highest dollar amount to the lowest, rather than in the order the transactions took place. That helped drain customer bank accounts faster and drive up overdraft fees, a policy Alsup referred to as "gouging and profiteering.""
Published on Saturday 19th of May 2012 03:14:16 PM
Bank of America ends overdraft fees on debit cards
Posted by admin / Under Overdraft
(03-09) 21:21 PST NEW YORK, (AP) -- Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It's a step that may become a common move ahead of new regulations limiting overdraft fees. Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/03/09/financial/f190007S63.DTL&tsp=1#ixzz0hkprqVVM
Published on Saturday 19th of May 2012 03:14:16 PM
Banks make $38bn from overdraft fees
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Banks make $38bn from overdraft fees By Saskia Scholtes and Francesco Guerrera in New York Published: August 9 2009 22:52 | Last updated: August 9 2009 22:52 US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000. The finding is likely to increase public hostility towards the financial sector, which has been under political pressure to ease the burden on consumers by increasing...
Published on Saturday 19th of May 2012 03:14:16 PM
How to Get $78 From Bank of America [overdraft class action lawsuit]
Posted by admin / Under Overdraft
If you were hit with an overdraft fee from Bank of America (NYSE:BAC) (or one of the banks it acquired) between 2000 and 2007, you may be in for a little cash. Bank of America recently settled a class-action lawsuit that alleged it (and by extension, Fleet Bank, LaSalle Bank and U.S. Trust Company, which it acquired during that period) changed the posting order of transactions and embarked on other activities in order to increase the revenue it received from non-sufficient funds fees, overdraft fees and similar charges. The lawsuit, which was settled for $35 million, also alleged that the...
Published on Saturday 19th of May 2012 03:14:16 PM
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