Definition from Nolo’s Plain-English Law Dictionary
Fees charged by a credit card company or bank for using (or failing to use) its services in particular ways, such as inactivity fees, fees for not carrying a balance on a credit card, or fees for using an ATM or a teller. Sometimes used to refer to any fee a company charges that is disproportionate to the actual cost of the service provided or the activity being penalized, such as a $100 fee to change an airline seat or a $500 fee to have real estate documents notarized when purchasing a house.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:20 pm