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Consumer Fraud Forum Blog

Are Banks Getting Rich Off Your Overdraft Fees?

POSTED: William PinilisDecember 29, 2016 at 11:20 AM / Bank Fees

Consumer advocacy groups say banks are using overdraft fees to line their pockets. According to a study from the U.S. Public Interest Research Group, a federation of consumer advocacy organizations, 626 large banks made $8.4 billion dollars by charging consumers overdraft and “non-sufficient funds” fees in...

New Report Shows Many Consumers Are Unhappy With Their Banks

POSTED: William PinilisSeptember 13, 2016 at 11:26 AM / Bank Fees, Banking

The Consumer Financial Protection Bureau has released a new report that shows a huge spike in complaints from bank customers. The bureau says American consumers report that they “experience problems” managing their accounts at banks and credit unions across the country.

$4 Billion a Year Saved in Gotcha Fees

POSTED: William PinilisDecember 11, 2015 at 10:42 AM / Consumer Rights, Bank Fees, Consumer News

It is nearly impossible to function in today’s world without a credit card. In fact, more than 60 percent of adults in the United States have at least one credit card. And there were more than $1.4 trillion in purchases using credit card transactions, during the first six months of 2015.

6 Smart Ways to Avoid Bank Fees

POSTED: William PinilisSeptember 10, 2015 at 2:44 PM / Bank Fees

Here at Consumer Fraud Forum, we are all about saving money, and a major way to save money is to avoid bank fees. Did you know that in just the first quarter of this year, the Big 3 banks (Bank of America, JPMorgan Chase and Wells Fargo) made more than $1.1 Billion from overdraft fees? Banks also make...

The Shady World of Campus Debit Cards

POSTED: William PinilisMay 21, 2015 at 9:25 AM / Bank Fees

The U.S. Department of Education has proposed setting up some rules around university debit cards. The cards, which sometimes come with steep fees attached, are linked to bank accounts where students' financial aid is deposited. Parents and students aren't always told about how these cards work, what the...

Overdraft Fees Can Cost You

POSTED: William PinilisMay 4, 2015 at 12:09 PM / Bank Fees, Financial & Insurance Fraud

Alabama-based Regions Bank has charged consumers $50 Million in illegal overdraft fees, the Consumer Financial Protection Bureau ruled. Fortunately, the bank was fined $7.5 Million for its unlawful practices, but how does this affect you, the consumer?

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