US Bank

US Bank, USA Bank deral law, compliance, not following new federal law, overdraft, overdraft fee, overdraft fees Tucson, Arizona

27th of Jan, 2011 by

It seems US Bank has decided they are above the law! The bank, regardless of the new law, still continues to charge consumers overdraft fees regardless of whether or not the consumer gives them permission to charge such fees or not!

The new law, enacted August 2010 says the bank must have your permission to charge you overdraft fees for debit card transactions. I have specifically told US Bank to NOT charge me these fees. If the money is not in the account, decline the charge!

I keep x amount of dollars in my savings account and x amount in my checking. US Bank has continued to charge me fees to transfer small amounts of money from my savings account to checking. Example - $10 "overdraft fee" to transfer $50 from savings to checking. The best part...the account never overdrew! I had $1 in the account and they allowed additional debit transactions to approve.

What a scam! $10 to move $50 and the account hadn't even overdrawn!!!

I have reported this activity to the Arizona Attorney General and to the Comptroller of the Currency Administrator of National Banks. I highly recommend others do the same!

Don't let these banks break the law. If you or I break the law, we go to jail. The people just get richer by breaking the law.

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