Regions Bank to refund $141M for illegal overdraft fees

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hpman66

Hawkeye
Joined
Mar 27, 2003
Messages
5,203
I wonder if any heads rolled on this(2nd time it's happened in a decade)



Further the CFPB found that Regions' executives knew the error in their systems was occurring, but held off making adjustments to their practices until the bank could find ways to replace the revenues lost from the fees. The CFPB said overdraft and non-sufficient funds fees — otherwise known as a bounced-check fee — were roughly 18% of the bank's non-interest income in 2019.
 

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