Federal consumer finance regulators said Thursday they were suing TCF Financial Corp., alleging the bank deceived consumers so it could charge them exorbitant overdraft fees. Banks’ overdraft fee tactics have long been considered predatory by consumer advocates. Such fees, which are charged when customers overspend their bank accounts, largely fall upon lower-income account holders.
CHERRY HILL TWP. — A Connecticut woman is suing Cherry Hill-headquartered TD Bank over its allegedly “unlawful” overdraft fee that charges users who don’t replenish their bank accounts within 10 days. Per the class action lawsuit filed Jan. 4 on behalf of Shaina Dorsey by Marlton-based lawyer Stephen DeNittis, the sustained overdraft charge of $20 is imposed after an initial charge of $35 for …
Angelina Lemus was puzzled. She had no idea why every month as much as $96 was disappearing from her Citibank checking account. Months later, Ms. Lemus finally figured out the mystery — or at least part of it.