Comments on: Bank of America Allowed to Deduct Fees From Social Security Benefits http://www.consumerismcommentary.com/bank-of-america-allowed-to-deduct-fees-from-social-security-benefits/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 13 Feb 2012 04:45:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: allene williams jenkins http://www.consumerismcommentary.com/bank-of-america-allowed-to-deduct-fees-from-social-security-benefits/comment-page-1/#comment-195103 allene williams jenkins Thu, 18 Jun 2009 05:42:45 +0000 http://www.consumerismcommentary.com/?p=6731#comment-195103 THANK GOD,,,,some body has open the door to a very bad situation. these banks are too aggressive when it come to over draft fees. i am with wachovia and i had a bad situation it took pay check of 800.00 in over draft fees. i was so distraunt when i saw this happening, but they cedited back 35.00 and said this was all they coud do. i am in such a financial hardship now. I HOPE SOMEBODY CAN PUT A CAP ON THIS OR AT LEAST SLOW IT DOWN. THANK GOD,,,,some body has open the door to a very bad situation. these banks are too aggressive when it come to over draft fees. i am with wachovia and i had a bad situation it took pay check of 800.00 in over draft fees. i was so distraunt when i saw this happening, but they cedited back 35.00 and said this was all they coud do. i am in such a financial hardship now. I HOPE SOMEBODY CAN PUT A CAP ON THIS OR AT LEAST SLOW IT DOWN.

]]> By: Mr. C. Cross http://www.consumerismcommentary.com/bank-of-america-allowed-to-deduct-fees-from-social-security-benefits/comment-page-1/#comment-194476 Mr. C. Cross Sat, 06 Jun 2009 05:25:27 +0000 http://www.consumerismcommentary.com/?p=6731#comment-194476 While your comment seems reasonable on the surface, I personally know and work with several people with serious mental and emotional challenges who receive SSI and SSD who have lost hundreds of dollars to Bank America in these overdraft fees. In one particular instance a young woman had $35 'confiscated' from her government benefits because she accidentally overdrew her account by three cents. Since she didn't expect that overdraft fee it triggered another overdraft on a three dollar purchase which resulted in another $35 charge. Discipline and attention to financial health are laudable goals, but some people really need a helping hand when they make a mistake, not a slap in the face. While your comment seems reasonable on the surface, I personally know and work with several people with serious mental and emotional challenges who receive SSI and SSD who have lost hundreds of dollars to Bank America in these overdraft fees.

In one particular instance a young woman had $35 ‘confiscated’ from her government benefits because she accidentally overdrew her account by three cents. Since she didn’t expect that overdraft fee it triggered another overdraft on a three dollar purchase which resulted in another $35 charge.

Discipline and attention to financial health are laudable goals, but some people really need a helping hand when they make a mistake, not a slap in the face.

]]> By: Rassah http://www.consumerismcommentary.com/bank-of-america-allowed-to-deduct-fees-from-social-security-benefits/comment-page-1/#comment-194453 Rassah Fri, 05 Jun 2009 20:30:38 +0000 http://www.consumerismcommentary.com/?p=6731#comment-194453 Seems they are charging people not for "lack of money to pay" but for customers either not caring, or not bothering to check if there is enough money in their bank (i.e. not staying on top of their finances), so I don't really see a problem with this ruling. If the issue was the bank charging too high of interest or fees for services (taking money away from people), that would be one thing, but to me it seems that they're just punishing bad behavior. Seems they are charging people not for “lack of money to pay” but for customers either not caring, or not bothering to check if there is enough money in their bank (i.e. not staying on top of their finances), so I don’t really see a problem with this ruling. If the issue was the bank charging too high of interest or fees for services (taking money away from people), that would be one thing, but to me it seems that they’re just punishing bad behavior.

]]> By: *flash* http://www.consumerismcommentary.com/bank-of-america-allowed-to-deduct-fees-from-social-security-benefits/comment-page-1/#comment-194438 *flash* Fri, 05 Jun 2009 15:54:23 +0000 http://www.consumerismcommentary.com/?p=6731#comment-194438 Very interesting ruling. What part of FOOD/CLOTHING/SHELTER does that judge not understand when it come to Social Security? Due to ID theft in 1992 I have had many collecters hound me for money I do not owe for 17 years- WAY over the Statute Of Limitations. What a screwy ruling! Very interesting ruling. What part of FOOD/CLOTHING/SHELTER does that judge not understand when it come to Social Security?

Due to ID theft in 1992 I have had many collecters hound me for money I do not owe for 17 years- WAY over the Statute Of Limitations.

What a screwy ruling!

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