Bank Fee Reform
Target:
To Reform Excessive Bank Overdraft fees
Sponsored by:
Under current Federal Law and Regulations in the United States, Banks are allowed to punish customers with excessive over-draft fees. They often run larger debits first from accounts, take the account into the negative, then run through smaller debits, stacking excessive over-draft fees.
This is legal stealing!
Which is worse, some poor soul making an error on his or her book keeping, or Banks being allowed to take an account into the negative as far as they wish.
Besides, with so much of todays banking industry automated, do they really need all those excessive overdraft fees?
It is time the Banks are told enough is enough.
Regulations should be put in place stopping the stacking of overdraft fees, stopping Banks from running larger debits first, and stopping Banks from taking acounts into the negative with fees. Limits also need to be placed on overdraft fees (something more in line with the prime interest rate),
and Banks should not be able to increase fees once a customer has signed his customer agreement with the Bank at the time their account is open).
This is legal stealing!
Which is worse, some poor soul making an error on his or her book keeping, or Banks being allowed to take an account into the negative as far as they wish.
Besides, with so much of todays banking industry automated, do they really need all those excessive overdraft fees?
It is time the Banks are told enough is enough.
Regulations should be put in place stopping the stacking of overdraft fees, stopping Banks from running larger debits first, and stopping Banks from taking acounts into the negative with fees. Limits also need to be placed on overdraft fees (something more in line with the prime interest rate),
and Banks should not be able to increase fees once a customer has signed his customer agreement with the Bank at the time their account is open).
Under current Federal Law and Regulations in the United States, Banks are allowed to punish customers with excessive over-draft fees. They often run larger debits first from accounts, take the account into the negative, then run through smaller debits, stacking excessive over-draft fees.
This is legal stealing!
Which is worse, some poor soul making an error on his or her book keeping, or Banks being allowed to take an account into the negative as far as they wish.
Besides, with so much of todays banking industry automated, do they really need all those excessive overdraft fees?
It is time the Banks are told enough is enough.
Regulations should be put in place stopping the stacking of overdraft fees, stopping Banks from running larger debits first, and stopping Banks from taking acounts into the negative with fees. Limits also need to be placed on overdraft fees (something more in line with the prime interest rate),
and Banks should not be able to increase fees once a customer has signed his customer agreement with the Bank at the time their account is open).
This is legal stealing!
Which is worse, some poor soul making an error on his or her book keeping, or Banks being allowed to take an account into the negative as far as they wish.
Besides, with so much of todays banking industry automated, do they really need all those excessive overdraft fees?
It is time the Banks are told enough is enough.
Regulations should be put in place stopping the stacking of overdraft fees, stopping Banks from running larger debits first, and stopping Banks from taking acounts into the negative with fees. Limits also need to be placed on overdraft fees (something more in line with the prime interest rate),
and Banks should not be able to increase fees once a customer has signed his customer agreement with the Bank at the time their account is open).
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We signed the "Bank Fee Reform" petition!
# 27:
7:57 pm PST, Nov 4,
Pam Boland, Georgia
# 26:
7:17 am PST, Nov 4,
Name not displayed, Canada
# 25:
7:23 am PST, Nov 3,
Name not displayed, Georgia
# 24:
5:35 am PDT, Oct 23,
Julia Hennig, Texas
# 23:
6:00 pm PDT, Oct 22,
Jennfier Stallings, Texas
# 22:
2:08 pm PDT, Oct 22,
Tom Stallings, Texas
One day the consumer will stand up and say "Enough is Enough". Bank theft should stop now?
One day the consumer will stand up and say "Enough is Enough". Bank theft should stop now?
# 21:
7:32 pm PDT, Oct 12,
Monica McGeary, Pennsylvania
Banks show a positive face when people open accounts, but that face changes or goes away after the account is established. Money is difficult enough to keep without banks turning to creative financing practices to bilk customers of hard-earned money.
Banks show a positive face when people open accounts, but that face changes or goes away after the account is established. Money is difficult enough to keep without banks turning to creative financing practices to bilk customers of hard-earned money.
# 20:
1:01 am PDT, Sep 28,
Matthew Gagliardi, California
Banks seems to be opportunistic vultures when it comes to overdraft fees. Safeguards could easily be put in place to prevent transactions that would over-draft an account, such as checking an account balance prior to authorizing a transactions etc. Instead they manipulate the order in which transactions are processed, have no safeguards in place, and practically invite the consumer to overdraft his account. This is ridiculous.
Banks seems to be opportunistic vultures when it comes to overdraft fees. Safeguards could easily be put in place to prevent transactions that would over-draft an account, such as checking an account balance prior to authorizing a transactions etc. Instead they manipulate the order in which transactions are processed, have no safeguards in place, and practically invite the consumer to overdraft his account. This is ridiculous.
# 19:
5:48 pm PDT, Sep 27,
Necole Cook, Virginia
# 18:
12:51 am PDT, Sep 24,
Can Atik, Turkey
# 17:
1:47 pm PDT, Sep 18,
Simos Tarabatzis, Greece
# 16:
9:38 am PDT, Sep 17,
Carol Flores, Texas
# 15:
12:29 pm PDT, Sep 14,
Name not displayed, Florida
# 14:
5:24 am PDT, Sep 12,
Name not displayed, Virginia
USA Today, in an article dated 8/5/08, describes the scheme that such banks as Suntrust and Bank of America and other institutions are doing to accumulate these outrageous fees. The fees are $35 per transaction and the banks have two particular ways that they manipulate customers' accounts to intentionally increase the amount of the overdraft fee. They will hold deposits so that they can charge the od fee. They will change the order of transactions in order to trigger the od fee. Another popular trend is to consider the account withdrawn before it actually is--this is the newest technique. Also, they od fee will go into affect whether the account is .01-34.99 lacking and again it is per transaction. Banks should be able to have a system in place but what they are doing is gouging consumers. You could be short $1 for 20 different transactions and deposit $30 to cover but Suntrust will charge you $35 20 times. So your fee will be $700 for a $20 shortage. No kidding.
USA Today, in an article dated 8/5/08, describes the scheme that such banks as Suntrust and Bank of America and other institutions are doing to accumulate these outrageous fees. The fees are $35 per transaction and the banks have two particular ways that they manipulate customers' accounts to intentionally increase the amount of the overdraft fee. They will hold deposits so that they can charge the od fee. They will change the order of transactions in order to trigger the od fee. Another popular trend is to consider the account withdrawn before it actually is--this is the newest technique. Also, they od fee will go into affect whether the account is .01-34.99 lacking and again it is per transaction. Banks should be able to have a system in place but what they are doing is gouging consumers. You could be short $1 for 20 different transactions and deposit $30 to cover but Suntrust will charge you $35 20 times. So your fee will be $700 for a $20 shortage. No kidding.
# 13:
5:20 pm PDT, Sep 11,
Jennifer Gardner, Florida
# 12:
7:16 am PDT, Sep 10,
Name not displayed, Florida
Bank Fees are a way to rob legally fromt he people who trust the institution to help them.
Bank Fees are a way to rob legally fromt he people who trust the institution to help them.
# 11:
1:47 pm PDT, Sep 9,
John Baker, Arkansas
# 10:
1:19 pm PDT, Sep 9,
Name not displayed, Texas
# 9:
12:26 pm PDT, Sep 9,
Name not displayed, New Mexico
I believe this petition to be true! I am being charged $5.95 fee a month and have been because, my direct deposit ceased along with my job and I was not notified by the bank on this charge in which took my account into a negaive balance costing me about $285.00 in fees. How am I supposed to pay that with unemployment? Their answer to me was I should have remembered the fee when I opened my acount more than three years ago! This is so unfair!!! Why isn't the goverment looking after us and into these bank procedures? This is stil America right? Why are we (the people) letting the goverment overlok this isue along with many others?
I believe this petition to be true! I am being charged $5.95 fee a month and have been because, my direct deposit ceased along with my job and I was not notified by the bank on this charge in which took my account into a negaive balance costing me about $285.00 in fees. How am I supposed to pay that with unemployment? Their answer to me was I should have remembered the fee when I opened my acount more than three years ago! This is so unfair!!! Why isn't the goverment looking after us and into these bank procedures? This is stil America right? Why are we (the people) letting the goverment overlok this isue along with many others?
# 8:
5:21 pm PDT, Sep 8,
Freddie Geisler, Florida
# 7:
10:06 am PDT, Sep 8,
Carmen Perrin, Arkansas
# 6:
12:12 am PDT, Sep 8,
Lyn Gottschalk, Wisconsin
This is why I put my money onto plastic and use Direct Deposit to do so. I will not use a bank until they reform.
This is why I put my money onto plastic and use Direct Deposit to do so. I will not use a bank until they reform.
# 5:
12:35 pm PDT, Sep 6,
Cari Kiebach, Pennsylvania
# 4:
11:03 am PDT, Sep 6,
Sonja Brown, Indiana
The banks are practicing legalized stealing! Fees, upon fees, leave your account in a negative balance, adding fuel to the fire if you make a mistake. Shame on you for stealing from the already struggling American consumer!
The banks are practicing legalized stealing! Fees, upon fees, leave your account in a negative balance, adding fuel to the fire if you make a mistake. Shame on you for stealing from the already struggling American consumer!
# 3:
9:20 pm PDT, Sep 5,
Pam Boland, Georgia
# 2:
6:38 pm PDT, Sep 4,
Erika Stone, Virginia
# 1:
5:22 pm PDT, Sep 4,
Steve Dale, Australia
BANKS DO NOT CARE ABOUT CUSTOMERS AT ALL EXCEPT WHEN THEY ARE DEPOSITING MONEY INTO THERE ACCOUNT,BANKS ONLY CARE FOR PROFITS AND MORE PROFITS AND WAYS TO MAKE MORE PROFITS,AND THE MONEY THEY PAY THERE CEO'S IS APPALLING AND DISGUSTING AS NO ONE IS WORTH THAT WAGE,EVEN GOVERNMENTS ARE OVERPAID AND OVERCOMPENSATED AS IS ALL CEO'S ETC ETC,JUST WITHDRAW YOUR MONEY AND GO TO ANOTHER BANK PEOPLE,THERE ARE BETTER ONES AROUND IF YOU LOOK FOR THEM.
BANKS DO NOT CARE ABOUT CUSTOMERS AT ALL EXCEPT WHEN THEY ARE DEPOSITING MONEY INTO THERE ACCOUNT,BANKS ONLY CARE FOR PROFITS AND MORE PROFITS AND WAYS TO MAKE MORE PROFITS,AND THE MONEY THEY PAY THERE CEO'S IS APPALLING AND DISGUSTING AS NO ONE IS WORTH THAT WAGE,EVEN GOVERNMENTS ARE OVERPAID AND OVERCOMPENSATED AS IS ALL CEO'S ETC ETC,JUST WITHDRAW YOUR MONEY AND GO TO ANOTHER BANK PEOPLE,THERE ARE BETTER ONES AROUND IF YOU LOOK FOR THEM.
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