Overdrafts

The suit against Alliant Credit Union comes just weeks after trade associations said firms were using social media ads to target plaintiffs for a potential class-action case.

These teens and early 20-somethings are hardworking, frugal, prudent, debt averse and fiercely opposed to fees — much like their great-grandparents who grew up during the Depression.

How the big banks fared in the Fed's latest round of stress testing; what's on new FDIC chair Jelena McWilliams' plate; why banks' biggest risk factor may be employees who don't speak up; and more from this week's most-read stories.

At a time when credit unions have seen a major increase in fee income from overdrafts, several big banks are following Silicon Valley's lead by offering new fee-free accounts.

JPMorgan Chase and Wells Fargo are following Silicon Valley's lead by offering new fee-free accounts. While there are risks involved, the cost of doing nothing would be significant, analysts said.

As if ADA suits weren't enough, a California-based law firm is using social media advertising to search for credit union members who have been charged overdraft fees, in the hopes of filing a potential class-action suit.

A new report sees credit unions making significant gains in overdraft income as banks and thrifts shift their focus away from single-service customers who only want checking accounts.

Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.

The consumer lender Oportun is rolling out a product designed to combat overdraft fees.

The credit union is being sued by a member who claims the CU improperly charged him overdraft fees based on his available balance rather than his actual balance, thus triggering additional NSF charges.

A customer is claiming that the Chicago bank operates a "predatory" overdraft fee program.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and more.

Legislation and regulatory policy that takes a heavy-handed view of overdraft protection could remove a safe and convenient option for consumers managing their finances.

Departing chairman Martin Gruenberg says the financial system is still vulnerable to unforeseen shocks; bank offers ways for customers to avoid overdraft fees.

Under changes announced Tuesday, the San Francisco company will provide a one-day grace period on overdraft fees to its direct deposit customers. It also eliminated overdraft fees on all transactions of under $5.

The financial crisis gave Mary Navarro an unprecedented opportunity to change banking for the better — and she delivered.

House Democrats are lobbying for a bill to reform the way banks charge overdraft fees, but recognizing that Republicans are unlikely to take up the legislation, they are hoping the CFPB can act on its own.

Readers react to Equifax's massive data breach, weigh in on the departure of SoFi's CEO, endorse a new digital identity system, and more.

But the Wayzata, Minn., company is not out of legal hot water, as a judge let stand some charges that it violated a provision in the Dodd-Frank Act that prohibits using deceptive practices to sell consumer products.