Retiree Now Suffers From an Unexpected Bank Overdraft Fee

A retiree now suffers from an unexpected bank overdraft fee after $13,000 was mysteriously drained from her account.

Virginia Wimer, 95, turned to local NBC affiliate WFLA after $13,000 had disappeared from her Bank of America checking account.

She was charged $4,000 in an overdraft fee at the time her money had been stolen.

Bank of America reportedly reimbursed her the $13,000 but due to an overdraft protection on her account, $4,237.83 was charged to her Bank of America credit card, which the bank has been unwilling to reimburse.

Wimer filed a claim for the charges, but the claim was reportedly denied.

According to a letter sent from the bank, her claim was not approved because the $4,237.83 was an overdraft protection charge, reports The-Sun.

Bank of America had reportedly said that the decision to deny the claim was final.

Wimer told the outlet that she can’t sleep well because the charges are on her mind all the time.

Wimer’s caregiver, Jerry Starr reached out to the bank and was told that the bank was escalating the situation and looking for a positive outcome for Wimer.

However, after investigative reporter Shannon Behnken reached out to the bank, they followed up with Starr and told him that Wimer would have to continue to pay for the overdraft charge.

“That’s wrong. And that’s why I called you. This is wrong.”

“They don’t hear us,” Starr said of the bank.

Bank of America said that Wimer would still have to pay the money back because it was a loan to her checking account, according to Behnken.

Due to privacy concerns, Behnken said the Bank of America spokesperson cannot share further details at this time.

This is a developing story.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

Other Banking News Today

Market News Today - Retiree Now Suffers From an Unexpected Bank Overdraft Fee.
Market News Today – Retiree Now Suffers From an Unexpected Bank Overdraft Fee.

Chase is now being sued for closing accounts without warning and for wrongfully cancelling transactions.

Sinai Holdings, a medical services firm in Broward County, Florida, claims that JPMorgan abruptly closed its business accounts with minimal notice, spreading misinformation that damaged its business relationships.

“Similar cases have been previously dismissed. We are prepared to defend ourselves in this latest complaint,” a JPMorgan spokesperson told The U.S. Sun.

The New York Times reported on other sudden account closures based on more than 200 complaints that former JPMorgan account holders sent the newspaper.

The Sinai lawsuit also alleges unethical practices at the bank that hinder its business operations.

JPMorgan placed Sinai, which operates surgery centers and clinics, and its owner, Jacob Gitman, on an internal list of constituents it will not work with, according to the complaint filed in US District Court in southern Florida.

The medical company claims that JPMorgan told its customers that Sinai was under investigation by the Office of Foreign Assets Control (OFAC).

The OFAC is a financial intelligence agency of the US Treasury Department.

It enforces economic agency, preventing people or groups from evading US Sanctions.

“OFAC sanctions are for human traffickers, or terrorists, or people who are proliferating weapons of mass destruction,” Joshua Kon, the attorney for Sinai and Gitman, said in an interview.

“Chase knows that there are no OFAC investigations or no sanctions, yet they continue to put that in written correspondence to customers to explain why a transaction is canceled.”

Because of JPMorgan’s alleged refusal to comply with Sinai, the company has struggled to meet its funding obligations and access credit from other lenders, according to the complaint.

Gitman and Sinai are requesting injunctive relief from the court as they had several of their bank accounts closed at other large US banks due to “Chase’s industry-wide defamation,” wrote Kon in the complaint.

Sinai’s company value has plummeted as a result of its troubles with JPMorgan, despite it growing to over $600 million before the lawsuit, according to the complaint.

Also Read: A US Bank is Now Denying Customers Access to Money

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Market News Today - Retiree Now Suffers From an Unexpected Bank Overdraft Fee.
Market News Today – Retiree Now Suffers From an Unexpected Bank Overdraft Fee.

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