Bank Ordered To Forfeit $6.2 Million For Misleading Customers

December 19, 2023 Local News

Atlantic Union Bank has been ordered by the Consumer Financial Protection Bureau to pay $6.2 Million Million for misleading customers & illegal overdraft fees. The forfeiture comes with an agreement in which the bank does not admit guilt, after it was discovered that Atlantic Union illegally enrolled its customers in an overdraft protection program by failing to provide those customers with specific information about it in writing before they signed up for it, and for misleading and deceiving customers about how it worked. Those actions were found to affect more than 8,500 consumers.