- Friday, October 19, 2012
Consumer Account Agreements, Rules and Regulations Covering ATM and Debit Cards Require Attention as a Result of New Class Action Filings Against Banks in Illinois.
Banks should review all consumer account agreements and applicable rules and regulations pertaining to ATM and debit cards to ensure that disclosures permit the posting of transactions in any order. Banks should further review their practices with respect to the posting of transactions to determine whether they are in fact posting to maximize overdraft fees.
Illinois Banks Have Been Targeted