Remember transaction sorting? Banks preventing consumers from opting out of overdraft protection? Thought the new consumer protection laws had outlawed these practices and made them obsolete? Sure they’re obsolete and illegal NOW, but banks still have to make reparations for the past. Earlier this year, Bank of America agreed to pay $410 million to settle [...]
Entries Tagged as 'Opt Out'
Bank of America to Pay $410 Million for Overdraft Practices
July 19th, 2011 · No Comments · Banking
Tags: bank accounts·bank of america·checking accounts·Opt Out·overdraft fees·transaction sorting·Wells Fargo
45 Days to Opt Out of Credit Card Rate Hikes? Not So Fast
August 28th, 2009 · 1 Comment · Credit Cards
As of Aug. 20, the new Credit Card Act requires credit card issuers to give consumers the right to cancel or opt out of certain changes in terms on their accounts. Credit card issuers must inform card users of the right to cancel when they mail the 45-day advance notice of the change in terms. [...]
Tags: cardholders·credit card issurers·Credit Card Reform Act·Credit Cards·fixed rates·Opt Out·rate increases·variable rate cards
Citibank Uses Sneaky Way to Keep Sending You Junk Mail Even After You “Opt Out”.
March 25th, 2008 · 1 Comment · Credit Cards
After he continued to receive mailings for months from his bank after he thought he opted out of their mailings, reader Perre asked Citibank if they had honored his request. They said, “yes you’re opted out of Balance Transfer offers and Cash Convenience Checks.” Then he cleverly thought to ask which mailing lists he was [...]
Tags: Balance Transfers·Citibank·Junk Mail·Mailing Lists·Opt Out
