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Overdraft fee ruling in California may affect larger lawsuit
Thursday, August 12, 2010
San Francisco Chronicle: A California federal judge’s ruling ordering Wells Fargo to pay $203 million in a lawsuit over how the bank determines overdraft fees “might be just the start of troubles for the bank,” writes Robert Selna. Wells Fargo is one of more than 30 lending institutions facing legal action in Florida over claims that they “processed debit transactions from the largest to the smallest, instead of the order in which they occurred, depleting accounts faster and boosting the number of overdrafts, which cost as much as $35 per transaction.”
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Tags: bank fees, class action lawsuits, Wells Fargo;
Category: In The News;