Wells Fargo is a multiple offender. Therefore, it came as no surprise to anyone that they lost their court challenge against having to pay a fine for excessive overdraft fees they imposed on their customers. A California judge determined that they have to pay back $203 million in what the judge determined was a tricky […]

Everyone might not see it this way, but I think this is a pleasant surprise. Bank of America has taken the proactive step of saying that they’re eliminating overdraft fees on debit card purchases. Well, that’s kind of a misnomer, but it works for the moment. What they’re going to do if you use your […]

With the new credit card legislation came another new provision that effectively takes a lot of non-voluntary money away from banks. Overdraft fees were a big thing for banks. At some point, they started charging fees to people while still paying bills if you happened to go over your limit. The same goes for credit […]

A couple of weeks ago I wrote about Bank of America agreeing that they wouldn’t be charging people on overdrafts of $10 or less, which I thought was pretty weak, but it was at least something. They also reduced the overdraft fee to $25. Last week they announced that they wouldn’t be hiking up interest […]

Good news finally from the banking world. Both Bank of America and Chase today announced that they were rolling back some of the most punitive fees on overdrafts in the county. Bank of America announced that they wouldn’t charge overdraft fees for being overdrawn less than $10, and would offer customers the option of opting […]

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