Bank and credit union overdraft fees remain consistently high all over the country.
While, overdraft fees vary by financial institution, the average overdraft fee is about $33.07.
On top of increasing overdraft fees, credit unions like America First Federal Credit Union and Randolph Brooks Federal Credit Union are also adding conditions to make checking account and ATM card fees even more expensive.
The terms used to assess these banking fees are often unclear to the consumer and also make avoiding such fees more difficult.
What Are Overdraft Fees?
Credit unions and banks use overdraft fees to charge consumers when an account has inadequate funds to cover expenses.
The overdraft fees that go along with overdraft protection actually allow for the expenses to be paid. This can be done either by extending credit to the consumer in lieu of their own funds or by paying the expense through another linked account.
Consumer advocates report that those who opt in to overdraft protection services tend to be charged more in fees than those who do not.
Overdraft Fee Lawsuits
Many Americans do not end up paying overdraft fees, having enough financial stability to avoid overdrawing their accounts.
Yet, banks and credit unions still manage to profit from these service charges and overdraft fees. The largest U.S. banks rake in millions from overdraft fees alone, and in most cases, this money comes from the Americans who can least afford it.
The consumers who struggle to maintain a minimum balance in their accounts tend to be penalized with excessive fees and make up a good portion of the money generating profit for big banks and credit unions.
The credit unions America First Federal Credit Union and Randolph Brooks Federal Credit Union also charge overdraft fees.
A growing number of overdraft fee lawsuits are confronting the way these financial institutions run overdraft programs. Overdraft fee lawsuits allege that the overdraft programs of some banks and credit unions involve excessive overdraft limits, and are often not transparent, available, and comprehensible for their customers.
Overdraft fee lawsuits allege that some banks and credit unions institute overdraft procedures that are deliberately obscure or undisclosed, which allows for banking transactions to be processed in a non-neutral manner.
In some cases, this means that transactions may not be processed in the chronological order in which they occur, but in the order that allows the financial institution to charge the most in overdraft fees. In these situations transactions may allegedly be processed from largest to smallest, which would increase the likelihood of overdraft fees for the customer.
If you or someone you know has been subjected to excess or heavy overdraft fees or account closures by America First Federal Credit Union, Randolph Brooks Federal Credit Union, or another credit union, you may be able to join an overdraft fees class action lawsuit.
Do YOU have a legal claim? Fill out the form on this page now for a free, immediate, and confidential case evaluation. Some of the credit unions being investigated include, but are not limited to:
State Employees Credit Union
Pentagon Federal Credit Union
Boeing Employees Credit Union
Alliant Credit Union
Star One Credit Union
First Technology Federal Credit Union
America First Federal Credit Union
Randolph Brooks Federal Credit Union,
Suncoast Credit Union
Randolph Brooks Federal Credit Union
American Airlines Federal Credit Union
Mountain America Federal Credit Union
Vystar Credit Union
Space Coast Credit Union
Patelco Credit Union
The attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual lawsuit or class action lawsuit is best for you. Hurry — statutes of limitations may apply.
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2016 Top Class Actions® LLC
Various Trademarks held by their respective owners
Get Help – It’s Free
Join a Free Credit Union Overdraft Fee Class Action Lawsuit Investigation
If your credit union charged you overdraft fees, you may have a legal claim. Fill out the form on this page now to find out if you qualify!
An attorney will contact you if you qualify to discuss the details of your potential case.
- First Name*
- Last Name*
- Street Address*
- Apt. #
- City*
- State*
AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific
- Zip Code*
- Phone*
- Email*
- What is the name of the credit union(s) that charged you an overdraft fee?*
- How long ago did you incur an overdraft fee(s)?*
-
Less than 1 year
-
1-3 years
-
4+ years
-
- Do you have account statements showing your overdraft fees, or can you retrieve them from your credit union?
- Yes
- No
- ¿Necesita un orador español?
- Yes
- No
- Please enter any additional details you would like the staff reviewing your submission to know.*
- I understand and agree that submitting this form does not create an attorney-client relationship and that the information I submit is not confidential or privileged and may be shared.*
-
Yes
The attorney in charge of this advertisement is T.Kick of The Kick Law Firm, APC. -
-
if(typeof gf_global == ‘undefined’) var gf_global = {“gf_currency_config”:{“name”:”U.S. Dollar”,”symbol_left”:”$”,”symbol_right”:””,”symbol_padding”:””,”thousand_separator”:”,”,”decimal_separator”:”.”,”decimals”:2},”base_url”:”http:\/\/topclassactions.com\/wp-content\/plugins\/gravityforms”,”number_formats”:[],”spinnerUrl”:”http:\/\/topclassactions.com\/wp-content\/plugins\/gravityforms\/images\/spinner.gif”};jQuery(document).bind(‘gform_post_render’, function(event, formId, currentPage){if(formId == 148) {gformInitChosenFields(‘#input_148_5′,’No results matched’);if(!/(android)/i.test(navigator.userAgent)){jQuery(‘#input_148_7’).mask(‘(999) 999-9999’).bind(‘keypress’, function(e){if(e.which == 13){jQuery(this).blur();} } );}} } );jQuery(document).bind(‘gform_post_conditional_logic’, function(event, formId, fields, isInit){gformInitChosenFields(‘#input_148_5′,’No results matched’);} ); jQuery(document).ready(function(){jQuery(document).trigger(‘gform_post_render’, [148, 1]) } );
ATTORNEY ADVERTISING
The choice of a lawyer is an important decision and should not be based solely on advertisements.
E-mail any problems with this form to Staff@TopClassActions.com
PAID ATTORNEY ADVERTISEMENT: THIS WEB PAGE IS AN ADVERTISEMENT AND THE PARTICIPATING ATTORNEY(S) ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. The attorney in charge of this advertisement is T.Kick. It is not a lawyer referral service or prepaid legal services plan. Top Class Actions is not a law firm. Top Class Actions does not endorse or recommend any lawyer or law firm who participates in the network, nor does it analyze a person’s legal situation when determining which participating lawyers receive a person’s inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Top Class Actions does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys.
The post The Cost of Credit Union Overdraft Fees appeared first on Top Class Actions.
from http://topclassactions.com/lawsuit-settlements/lawsuit-news/281696-281696/
No comments:
Post a Comment