Sovereign Bank Bank Card Overdraft fees Elizabeth New Jersey

My youngest son opened his first checking account after getting his first real job. He went to Sovereign Bank because it was right up the street. He had his check direct deposited to the bank and received his Gold Card.

Can you imagine our surprise when his second check to the bank was completely consumed by $33.00 insufficient funds fees. We were shocked. Anyone else in the family would have been declined at the atm. When I spoke to the Manager at the bank I was also told that it was a "COURTESY".

I have been to affairs where they offered "Courtesy Valet Parking". After the affair they brought my car and I gave then a tip thanking them for the courtesy. I can imagine how it would feel if they brought me my car and then handed me a bill for $33.00 after telling me that it was a courtesy.

When speaking to the bank rep. on the phone She told me that, and I quote " They didn't know if he was somewhere and needed gas or something". I told her that it wasn't her job to figure those things out, just to be a bank and don't give him anything if he doesn't have the money.

This amounts to a one week $120. loan with with $112. interest. They used to have a name for a person who did that. He was called a "Loan Shark". And it was Illegal.

I asked the bank rep. to furnish me with the address of where is could send a letter of complaint. She said there was no one there at that time who knew but she would take my number and have someone with the address contact me within a day. That was a week ago.

Is there anyone out there who knows who I can contact with a formal complaint against this bank?

Kenneth
Elizabeth, New Jersey
U.S.A.