A North Tampa homeowner has filed suit against U.S. Bank and Bank of America.
Knut Horneland accuses the banks of misusing prepayments he made on a mortgage.
"They're using my money basically interest free, and they're charging me for the privilege," he said.
Horneland said U.S. Bank was not applying his prepayment promptly, "floating" the money to the bank's financial benefit.
The homeowner has filed a class-action lawsuit with the help of local attorney Craig Rothburd.
"The credit will happen two weeks down the road, three weeks down the road, and what happens is you lose the use of your money for that period of time and the bank is essentially charging you interest even though they've accepted your payment on an amount that's artificially high," Rothburd explained.
That means it will take longer for Horneland to pay off his mortgage.
"Did this happen to just Mr. Horneland? Or did it happen to thousands of other people?" asked Rothburd.
Horneland wants the practice changed, not just for his sake, but for other Floridians.
"I would like the banks to quit doing it because it's blatantly unfair and I've made prepayments since then and they've not credited the interest again," he said.