Citibank said it will start clearing smaller consumer checks first, offering a reprieve for those who cut it close and sometimes get hit with multiple overdraft fees. Get the full story »
Inside these posts: Overdraft
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Minnesota AG sues Discover over ‘protection’ fees
Minnesota Attorney General Lori Swanson is suing Discover over allegations that the credit card company charged customers for unauthorized account protection programs such as credit score tracking and identity theft protection.
Swanson filed a lawsuit Monday in Hennepin County District Court against Discover Bank, DFS Services and Riverwoods-based parent company Discover Financial Services. Discover is one of the nation’s largest credit card companies. Get the full story »
How Chase, BofA will handle debit overdrafts
Chicago’s two biggest banks have diverging strategies on how to treat customers who overdraw their accounts using ATM and debit cards.
Starting July 1 for new customers and Aug. 15 for existing ones, banks need a consumer’s approval to process everyday debit and ATM card transactions that exceed the account balance. In the past, banks often have covered overdrafts, but socked the account holder with a $20 or $30 fee. Get the full story »
