Chase recently lost a huge Over Draft lawsuit (OD) and had to give back millions of dollars to consumers.

Overdraft fees at $34 each are clearly illegal and unconscionable.  These only cost the bank pennies but they charge consumers 1000% over their actual cost, which is clearly illegal.

Check out http://www.federalreserve.gov to place a complaint:

https://www.federalreserveconsumerhelp.gov/complaint/formcomplaint.cfm

your bank should NOT or NEVER

1) charge you a $34 OD fee on small amounts (under $1,000)

2) charge you an overdraft fee for debit cards that overdraft your account.  the bank has the right to refuse these and not charge you a fee.  they should not charge you for attempts to put through a credit card.

3) chase pulls this stunt where they let me make a transfer from one account to another where, early in the day, the first account has plenty of money to transfer the funds and they are in fact transferred, but by the end of the day, they then let a debit card transaction go thru and it overdrafts the account. They then charge 2 OD fees–which includes one for the transfer earlier in the day!  outrageous.

4) chase will also give you a loan, they will automatically take it out of your account on a day when funds were low, causing the OD, and they charge you the fee even if a day or two later there would have been sufficient funds in the account.  again, outrageous.

watch for these and other predatory banking practices.

these OD fees are primarily (70% or more) charged to and paid by customers with the lowest average balances, hence, they are clearly preying on the poor and lower middle class

joanne