Consumer complaint received 2015-09-28
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: BBVA FINANCIAL CORPORATION (FL)

I am continually being charged overdraft fees on my account and am somehow able to continue to use my account when it is in the negative. I never opted in when I signed up for my checking or savings account for overdraft protection and under federal consumer financial protection laws all financial institutions must give me as the consumer the ability to opt in or out of the overdraft protection and BBVA Compass Bank opted me in for it at their discretion. As I have opted out of this when I opened the accounts for the very issue that I am facing now regarding the drastic and sizeable NSF charges the bank is charging my in their error. I was advised via a telephone call to BBVA Compass Banks customer service phone number XXXX on Saturday, XX/XX/XXXX at XXXX and was advised by a telephone representative that I would be refunded all NSF charges on my account as these charges were placed on my account at the banks error, and further I was advised that the representatives supervisor would be calling me within 24-48 hours to verify all the NSF charges have been refunded and as of this moment I have not been contacted. I need this resolved immediately otherwise I will contact my attorney to begin civil legal proceedings against BBVA Compass bank immediately to get these charges and the duress I 've encountered in dealing with this paid to me as soon as possible.Banks decide the order in which withdrawals will be processed from accounts, including electronic transactions, preauthorized debits and paper checks. The order of processing withdrawals has a large impact on the frequency of overdrafts and the cost to consumers with low balances. A bank that pays the largest check first can cause more checks to bounce for low-balance customers and can charge a penalty fee for each one. Consumers do not know the order in which items drawn on their account will be presented to their bank and are not likely to know the order in which their bank pays items. As a result, the Federal Reserve noted in adopting Truth in Savings regulations that consumers who areaware that their account may be overdrawn are not likely to know the number of items that will bounce or the total fees they will be charged. 
( above from Federal Reserve Board, Final Rule, Regulation DD, Docket No. XXXX, XX/XX/XXXX, p. XXXX. ) -- -The new overdraft rules were written by the Federal Reserve XXXX The rules : -- -Prohibit financial institutions from charging consumers fees for paying overdrafts on automated teller machine ( ATM ) and one-time debit card transactions, unless a consumer consents, or opts in, to the overdraft service for those types of transactions. -Give you the right to opt out at any time -- even if you already have opted in. -Require that you get same account terms, conditions and features, including price, as other account holders, even if you do not opt in. In other words, you can not be discriminated against if you do n't opt in.-Are issued under Regulation E, which implements the Electronic Funds Transfer Act. -Prohibit financial institutions from associating the payment of overdrafts for checks and other transactions to whether the consumer opts into overdraft service. 
-- -Therefore BBVA Compass Bank has violated the following as well as the above against me and probably more consumer financial protection laws : Truth in Lending Act ( TILA ), Federal Banking Regulation E and Federal Banking Regulation Z.