Key Bank USA Informative - Consumers Take Action Against Key Bank
CLEVELAND, OHIO -- For all of us who have been wrongly charged a overdraft fee by those Key Bank thieves along with their incompetent customer services reps, there may be justice coming for all of Key Bank customers. There is a class action lawsuit against Key Bank regarding their manipulation of charges to make more profit through overdraft fees. As some may not be aware, Wells Fargo had a similar lawsuit that just got settled in which the Judge ordered Wells Fargo to pay $230 million back to customers. I sincerely hope that the Wells Fargo settlement case sets a precedent for current and future litigation against banks such as the class action lawsuit against Key Bank.
To join the class action lawsuit against Key Bank regarding overdraft fee, click this link:
To view info about the lawsuit and court documents click this link:
My personal story with Key Bank regarding overdraft fees is similar to everyone's else experience it seems. But I'll go ahead and share: On July 28, 2010 my bank account was charged an overdraft fee of $37 even though my account balance was still POSITIVE $9.27. In June of 2010 I elected to NOT participate in Key Bank's overdraft protection services due to the $602.00 that I have paid year to date in overdraft fees. I contest the overdraft fees on the basis that the criteria for an overdraft charge was not met (ie: the account balance was not negative after the transaction cleared) and as such it violated my rights as a consumer due to the new consumer protections laws passed earlier this year prohibiting such business practices exhibited by Key Bank in this matter. On July 29, 2010 when I became aware of the bogus overdraft fee, I contacted Key Bank Customer Service not only once, but three times. All three times the customer service representatives declined to refund me my money and continued to argue that it was not a bank error (anyone with half a brain can look at the account statement and see that it is Key Bank's fault). That left me with no choice, so I filed a complaint with the Oregon Department of Justice, the BBB, and the OCC. Its been almost a month and I've yet to get my money back or contacted by Key Bank. However, due to Key Bank's blatant disregard for US financial consumer protection laws and failure to honor my request to opt out of their overdraft protection services, they need to be brought to justice. Whether that be by US government regulators or the US Justice Department. I am sure that I am not the only one out there who has been a victim of Key Bank's business practices that take advantage of uneducated customers (Key Bank really shot themselves in the foot this time though). I sincerely hope that this class action lawsuit forces Key Bank to re-evaluate their overdraft protection (dis)service and adhere to all current and future laws.
Sincerely, A Pissed Off Customer of Key Bank.