File a public comment about abusive "junk fees" with the Consumer Financial Protection Bureau.

To help understand how junk fees impact people’s financial lives, the Consumer Financial Protection Bureau (CFPB) is asking individuals, small business owners, and others to speak out.

Junk fees may include ridiculously high:

  • late payment penalties
  • overdraft fees
  • fees for making returns
  • fees for using an out-of-network ATM
  • fees for money transfers
  • fees for inactive accounts with no transactions.
  • fees to speak to a real person to get help.
  • fees to pay your bill by phone or other methods

To submit a "public comment" to the CFPB about junk fees you've been charged, ADD YOUR PERSONAL EXPERIENCE TO THE COMMENT BELOW. Then, click the "SUBMIT YOUR COMMENT" button.

Here are some more examples the CFPB provides of junk fees:

Fees for Not Having Enough Money
The cost of signing up for a bank account is generally advertised as account maintenance fees, which can vary substantially from bank to bank. However, the vast majority of fee revenue banks make from deposit accounts comes from back-end penalty fees for overdrafts or from not having enough funds to cover a transaction. In 2019, bank revenue from overdraft and non-sufficient funds fees surpassed $15 billion with the average cost of each charge between $30 to $35.

Late fees
Late fees are penalties for not paying a bill by the due date, and can be major sources of revenue for companies. Of the $23.6 billion fees charged by card issuers in 2019, $14 billion came from late fees alone.

Fees to Pay Your Bill
Banks commonly charge fees to accept payments on your bill, such as the ability to transfer payments, conduct a foreign transaction, or even pay bills online. These are sometimes called “convenience fees.”

Prepaid card fees
For people who are unbanked, prepaid cards provide critical access to basic financial services. While someone may choose a card based on their monthly fee structure, they often find additional and unadvertised fees for basic use of the card.

Closing costs and home-buying fees
Owning a home has historically been one of the best ways to build wealth. However, fees associated with closing on a home, such as document preparation or title insurance, can act as a significant barrier to families trying to buy a home or refinance and can significantly cut into household equity.

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