Double Dipping - Multiple NSF Fees on a Single Transaction

An accomplished Washington, DC Attorney, Jeffrey Douglas Kaliel focuses on litigation involving predatory practices. In a more recent case, Jeffrey Douglas Kaliel defended a client against Bremer Bank (Financial Corporation), which allegedly assessed multiple overdraft fees on a single transaction.

In the last two years or so, a slew of cases of this very same nature have surfaced. Little Rock’s The Bank of the Ozarks, Philadelphia’s Federal Credit Union, and HSBC are all being sued for this very same practice of charging customers multiple assessments on a single transaction.

Banks are typically allowed to assess charges for each transaction that comes through on an account with insufficient funds. The law even provides for allowing financial institutions the authority to charge multiple assessments on a single transaction. However, this information has to be clearly stipulated on disclosure agreements provided to customers.

While it might appear to be an underhanded practice, many financial institutions are guilty of this practice. Most of these cases began in 2019, but with their resolution, legal precedence might establish the legality of this practice.