Bank Of America Company Info

Paul Heaberlin / Flickr source U.S. Bank plans to restructure some of its fees this year. In the initial stage, customers will face a slightly higher overdraft fee — requiring greater diligence when managing their spending to avoid a negative balance. Starting June 29, 2012, the fee for an overdraft item of $15 or less is $15; for an overdraft item greater than $15, the fee is $35 per occurrence. Currently, U.S Bank charges $10 per overdraft item that is $20 or less and $33 per overdraft...Read Full Story

Lawmakers proposed a new bill to continue the fight against overdraft fees. Called the Overdraft Protection Act, the bill aims to cut down on the costs and frequency of overdrafts — and to further complement overdraft regulations from 2010. Introduced by Rep. Carolyn Maloney (D-NY) on Wednesday, the bill requires overdraft fees be “reasonable and proportional” to the transaction cost, imposes a limit of one overdraft charge per month and six per year and forbids manipulation of transactions...Read Full Story

Ed Uthman / Flickr source Fifth Third Bank (NASDAQ: FITB) will make major changes in a move to streamline its fee structure and savings account offerings. Starting June 27, 2012, checking customers can expect a revamped overdraft fee policy, while savings customers will see the types of accounts available reduced from 13 to three. “We are making these changes to simplify our accounts. We spend a lot of time talking to our customers to understand what they need and expect in an account and...Read Full Story

(EMAILWIRE.COM, May 09, 2012 ) New York, NY – Class Action.org is working with attorneys investigating whether customers of Fort Hood National Bank in Texas where charged unfair overdraft fees when they overdrew their accounts. Many of the nation’s largest banks have allegedly instituted unfair and deceptive overdraft protection policies. Some believe that customers of state and regional banks may have also been subjected to similar practices. It is believed that certain banks may be...Read Full Story

(EMAILWIRE.COM, May 11, 2012 ) New York, NY – The attorneys working with ClassAction.org are available to review unfair overdraft complaints from customers of state and regional banks to determine if they were unfairly charged when they overdrew their accounts. It has been alleged that certain banks are not processing debits in the order they occur, but rather in a highest-to-lowest sequence, which allows for them to maximize the amount of overdraft fees they charge, and in turn, increase...Read Full Story

(EMAILWIRE.COM, April 14, 2012 ) New York, NY – Class Action.org is working with attorneys investigating whether customers of SRP Federal Credit Union in Georgia and South Carolina where charged unfair overdraft fees when they overdrew their accounts. Many of the nation’s largest banks have allegedly instituted unfair and deceptive overdraft protection policies. Some believe that customers of state and regional banks may have also been subjected to similar practices. It is believed that...Read Full Story

(EMAILWIRE.COM, April 14, 2012 ) New York, NY – Class Action.org is working with attorneys investigating whether customers of Trans Credit Union in California where charged unfair overdraft fees when they overdrew their accounts. Many of the nation’s largest banks have allegedly instituted unfair and deceptive overdraft protection policies. Some believe that customers of state and regional banks may have also been subjected to similar practices. It is believed that certain banks may be...Read Full Story