Consumer agency calls out ‘junk’ fees that parents pay for online school lunch accounts ...Middle East

By Jeanne Sahadi, CNN New York (CNN) — The fees parents pay to make online deposits into their children’s school lunch accounts are under scrutiny at the Consumer Financial Protection Bureau, which found that some parents may pay up to 60 cents in fees for every dollar they deposit. And those fees can add up to tens of millions of dollars for the payment processors. A new report from the CFPB looked at data from the top five online payment processors schools use and found that flat fees ranged from $1 to $3.25 per transaction, while percentage fees ranged from 3.5% to 4.58% per deposit, which can range in frequency from a few times a year to at least two times a month. “Transaction fe

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