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Bank Failed to Stop Payments or Resolve Errors, Must Pay $12 Million in Restitution, $3.5 Million Fine

¿Usted está pensando en abrir una cuenta de cheques, pero no está seguro por dónde empezar? Tenemos recursos que le pueden ayudar a seleccionar el producto que mejor se ajuste a sus necesidades financieras. Nuestras nuevas guías sobre cuentas tienen información para ayudarle a comparar y luego manejar su cuenta de cheques.

Today the Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services.

We’re releasing a report about consumers’ experiences with overdraft programs. Many of the people we spoke with were surprised about overdraft fees. Take control of your checking account with our tips and guides.

In order to make overdraft disclosure more straightforward, we’ve created four possible designs for a new disclosure form. 

New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees

Thank you for joining us. In our fast-moving modern economy, it is increasingly common for consumers to use debit cards the way they used to use cash. They also write checks and arrange for money to be taken out of their account. This makes it harder to keep track of their checking account balances from day to day, even if they are diligent about checking their balances online or by phone. Consumers living on the edge can find themselves racking up numerous overdraft charges.

We recently published our Consumer Response Annual Report, which provides an overview of the complaints we received in 2016. 

Banks and credit unions can only charge you overdraft fees on one-time debit card transactions and ATM withdrawals if you “opt in.” Learn more about the opt in choice, and steps you can take to reduce or eliminate overdraft fees on your checking account.

Bank Incentives to Boost Sales Figures Spurred Employees to Secretly Open Deposit and Credit Card Accounts