Ask the Experts: Fees Drawn Against Social Security Funds

Q. Can banks collect overdraft fees from my Social Security check, which is directly deposited to my bank account?

A. Yes, they can. However, AARP is trying to change that. AARP has filed friend-of-the-court briefs on behalf of Bank of America customers whose Social Security payments were taken by the bank to pay for overdraft fees. The lawsuit currently is pending in the California Supreme Court.

Source: John Turner