Navy Federal Credit Union Ordered to Pay $95 Million for Illegal Overdraft Fees

In a recent ruling, the Navy Federal Credit Union has been mandated to pay a staggering $95 million in restitution and penalties due to its practices concerning overdraft fees that were found to be unlawful. This significant financial penalty stems from allegations that the credit union improperly charged members excessive fees for overdrafts on their accounts, which violated the terms of their agreements.

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