Violation Tracker Individual Record
The Consumer Financial Protection Bureau took action against Regions Bank for charging overdraft fees to consumers who had not opted-in for overdraft coverage. The bank also charged overdraft and non-sufficient funds fees on its deposit advance product despite claims that it would not. Regions has already refunded hundreds of thousands of consumers approximately $49 million in fees, and the consent order required the bank to fully refund all remaining consumers. The Bureau also fined the company $7.5 million for its illegal actions.