http://consumerist.com/5280567/bank-of-america-wins-right-to-seize-social-security-benefits-to-pay-overdraft-fees 
The California Supreme Court has effectively reversed a 2004 San Francisco trial court decision that ordered BofA to pay $284.4 million in damages to more than 1.1 million customers. The California Supreme Court ruled that banks can tap Social Security benefits in bank accounts to cover bounced-check fees, a practice consumer advocates say is abusive because Federal law prohibits Social Security benefits from being seized to pay a debt. California law apparently doesn't consider overdraft fees to be debt, so the fee party will be allowed to rock on indefinitely.
[
USAToday]
No comments:
Post a Comment