I was charged a fee in my savings account for doing too many withdrawals. The bank then decided to convert my account. Can they legally do that?
Yes, they should have sent you new disclosures. This is not uncommon with a money market account which limits third party checks to six per month. Savings accounts also have restrictions, but the ability to send money to third parties is usually more limited. There are required rules the bank must follow and if you use a savings account such as a checking account, the bank has to close it, convert it, or refuse the abusive transfers.
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Yes, they should have sent you new disclosures. This is not uncommon with a 