Each year greedy banks make millions of dollars off the backs of customers who are financially struggling. The massive amounts of revenue made by big banks are not enough to satisfy their large appetite for profits. Some big banks have already been involved in scandals over their unscrupulous business practices. They have been fined by the Consumer Financial Protection Bureau (CFPB) for engaging in years of customer abuse and shady practices.
Bank customers lost millions, including many who lost cars and homes as a direct result. Many customers don’t realize that they have options and they do not have to endure the financial abuse doled out by the banking industry. They do not want you to know it, but you may be eligible to reclaim the money stolen from you by predatory banks. Luckily, you can fight overdraft fees with the right representation. First, you must determine that you’ve been a victim of illegal overdraft fees. Here’s what you need to know.
Class Action Clauses
Most banks require customers to sign an arbitration agreement when they open their accounts. These agreements forbid clients from suing over grievances or participating in class action lawsuits against the bank. It is their form of protection because most customers assume they have no recourse after signing an arbitration agreement.
Fortunately, that is not the case. Bank customers who have been wronged can fight overdraft fees with the help of a skilled attorney who is experienced in these cases. Bank customers can choose to pursue arbitration with legal representation to reclaim money that has been unfairly taken by exorbitant bank fees.
Qualify for Arbitration
When charges hit your checking account, and there is not enough money to cover them, the bank should decline the charges. Unfortunately, the bank will often choose to approve these charges and then charge customers huge unfair overdraft fees. If the charges were incurred with a customer’s bank card instead of being a pre-approved bill payment, then the practice is known as a predatory practice.
If you have been charged even one overdraft fee on a debit card transaction, then you have likely been subject to unfair fees. If you still have an open, active account at Wells Fargo or Chase Bank and have been subject to this predatory practice, you can fight overdraft fees. The right attorney can represent your interests and help you reclaim the money that was unfairly taken from you.
Fight Overdraft Fees Today
If you think you may have fallen victim to these predatory practices, you can reclaim your money. Consult an experienced attorney who is familiar with shady banking practices and clearly understands the arbitration process. They will represent your rights and help you recover the financial fees that were unfairly taken from you when you could afford it the least. You can bring an arbitration against a big bank that lined their pocket at your expense with the help of an attorney. You don’t have to take it lying down. Fight overdraft fees and reclaim your hard-earned money today.
