The phrase "abusive fees" is correct and usable in written English.
It can be used to describe charges or fees that are considered excessive, unfair, or exploitative, often in a financial or service context.
Example: "Many customers have complained about the abusive fees imposed by the bank, which seem to target vulnerable account holders."
Alternatives: "excessive charges" or "exploitative fees".
He demanded stronger protections against unfair rate increases and abusive fees along with more oversight and enforcement.
Both Wells Fargo and JPMorgan Chase are facing class-action lawsuits accusing them of charging excessive and abusive fees to people delinquent on mortgage payments.
According to the White House, Obama wants to see credit card legislation "ban unfair rate increases and forbid abusive fees and penalties," eliminate fine print on statements and increase law enforcement against "deceptive" practices.
The Credit CARD Act, passed in the wake of the financial crisis, eliminated more than $4 billion in abusive fees and saves consumers $12.6 billion annually.
Loans were also originated with terms designed to trigger unaffordable payments three years from the date of origination for the sole purpose of forcing borrowers back to the table to refinance their loans and pay another round of abusive fees.
While the bank lobby continues to hold significant clout in Congress, President Barack Obama entered the fray on behalf of consumers Thursday, demanding that lenders put an end to abusive fees and predatory interest rates.
Just last week the FCA levelled an £18m fine against Aviva for abusive fee practices.
In late September, just days after Senate Banking Committee Chairman Christopher Dodd, the Connecticut Democrat, announced he was working on a bill to rein in abusive overdraft fees, JPMorgan and Bank of America unveiled a drastic revamping of their debit card programs.
Consumers are protected from abusive loan fees and penalties for prepaying.
Mr. Obama is set to meet at the White House on Thursday with executives from American Express, Bank of America, Capital One Financial, Citigroup, Discover Financial Services, JPMorgan Chase and others to discuss what officials say are abusive credit card fees and practices.
Even when black and Hispanic borrowers get a mortgage, they are more likely to be steered to higher-costing government-backed Federal Housing Administration and veterans loans or so-called subprime loans with steep and sometimes abusive rates and fees.
