Consumer Scams

Excessive Bank Overdraft Fees

Numerous banks, including banking giants Bank of America and Chase Bank, have been sued over manipulative practices that promote overdraft fees for consumers. Typically, banks were accused of re-ordering debits to maximize fees and, ultimately, profits.

While many of the banks involved are still tied up in litigation over the issue, Bank of America has settled for $410 million and been forced to change its overdraft fee policies. Several other banking institutions have followed suit.

Online Scams