In January of 2017, the Consumer Financial Protection Bureau sued TCF National Bank for tricking consumers into getting expensive overdraft protection. Banks are not allowed to charge you overdraft fees on ATM transactions and one-time debit card transactions unless they get your consent first. The lawsuit states that TCF was violating the Electronic Funds Transfer Act, the Dodd-Frank Wall Street Reform and the Consumer Protection Act.

According to TransUnion, there are certain things thieves will do with your stolen credit card information:
1) buy gift cards, 2) pay for online services, and 3) pay for video game credits. They also create counterfeit cards and buy jewelry, electronics and other high-priced items. To relax after their fraudulent activities, they like to charge late-night snacks, energy drinks and luxury hotel suites.

The average credit score went up by 4 percent in 2016 as compared with 2015. The average credit score is now 673. This is based on Experian’s “State of Credit Report.” The average consumer has $39,216 in debt. Here is the average credit score by generation:
Silent Generation: 730, Baby Boomers: 700, Generation X: 655, Generation Y: 634, Generation Z: 631.