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Wells Fargo ordered to repay 203 million in overdraft fees
A U S district judge ruled Wells Fargo engaged in unfair and deceptive practices by processing transactions from highest to lowest amounts starting in 2001. The policy allegedly drained customer accounts and drove up overdraft fees, described as gouging, with two Wells Fargo customers cited as examples. The decision directs restitution of 203 million to affected customers and questions its industry-wide applicability.
MENTIONED IN THIS ARTICLE
New York
California
Wells Fargo & Co
U.S
William Alsup
Wells Fargo
Alsup