FTC Says Payment Processor Took Millions

coondoggie writes "The Federal Trade Commission and seven states have charged a payment processor with violating federal and state laws by debiting, or attempting to debit, from consumers' bank accounts on behalf of numerous fraudulent telemarketers and Internet-based merchants. Between June 2004 and March 2006, the payment processing company, Your Money Access, processed more than $200 million in debits and attempted debits to consumers' bank accounts. More than $69 million of the attempted debits were returned or rejected by consumers or their banks for various reasons, indicating the lack of consumer authorization, the FTC complaint alleges."

Comments

ouch, reject fees?

[marcushnk]

I'm not sure about in America but here in Australia if someone tried to debit money from your account and it fails YOU the account holder get slugged a fee.
I wonder if this was the case for all the failed unauthorized attempts...?