CFPB Fines Regions Financial for Surprise Overdraft Fees

Regions Financial agreed to pay $191 million to settle a regulator’s accusations that it charged surprise overdraft fees that harmed its customers. 

A review from the Consumer Financial Protection Bureau found that, between August 2018 and July 2021, the bank charged customers overdraft fees on debit-card purchases and ATM withdrawals even though they had sufficient funds in their accounts at the time those transactions were authorized.