Calif. A.G. Bonta Issues Warning to Small Banks and Credit Unions: Surprise Overdraft and Returned Deposited Item Fees Harm Consumers
February 23, 2024
February 23, 2024
OAKLAND, California, Feb. 23 -- California Attorney General Rob Bonta issued the following news release on Feb. 22, 2024:
California Attorney General Rob Bonta today issued letters to small banks and credit unions warning that overdraft and returned deposited item fees may violate California's Unfair Competition Law (UCL) and the federal Consumer Financial Protection Act (CFPA). Some financial institutions charge up to $36 or more for each overdraft. California consumers paid a . . .
California Attorney General Rob Bonta today issued letters to small banks and credit unions warning that overdraft and returned deposited item fees may violate California's Unfair Competition Law (UCL) and the federal Consumer Financial Protection Act (CFPA). Some financial institutions charge up to $36 or more for each overdraft. California consumers paid a . . .