U.S. Bank announcement
July 3, 2012 at 1:21AM
U.S. Bancorp will pay $55 million to settle claims it gouged customers by charging excessive overdraft fees.
HOW IT HAPPENED:
The bank reordered debit card and ATM transactions in customers' checking accounts so the largest transactions cleared first, instead of clearing in order of when the transaction occurred.
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The state will lose about $18 million in federal funding as the Trump administration terminates two pandemic-era programs.
