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TD Bank, the U.S. unit of Toronto-Dominion (TD), will pay $122 million for charging fees to consumers on its optional overdraft service without their consent.
While banks have cut back on overdraft fees in the past decade, the nation’s biggest banks still take in roughly $8 billion in the charges every year, according to data from the CFPB and bank ...
Facebook recently paid 1.4 million Illinois residents $397 in 2022 as part of a class action lawsuit for facial recognition breaches through its “Tag Suggestions” feature, per CNBC.
Consumer complaints against big-bank junk fees are rising and federal regulations are in the works, including new rules to limit checking overdraft penalties and credit card late fees.
Wells Fargo eliminated NSF and overdraft protection fees in 2022, and it also began providing customers a 24-hour grace period to cover overdrafts before incurring a fee. The bank’s overdraft ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards.
Banks tend to be forgiving if you rectify the situation, and some even have formal programs for waiving overdraft fees. Here are the best practices for Bank of America, Chase, TD Bank and more.
The action announced Wednesday is the second by the agency against TD Bank. CFPB in 2020 ordered it to pay $97 million in restitution to about 1.4 million consumers and pay a $25 million fine for ...