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Wells Fargo loses consumer case over overdraft fees

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posted on Aug, 11 2010 @ 08:26 AM
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Wells Fargo loses consumer case over overdraft fees


articles.latimes.com

Wells Fargo & Co. should pay about $203 million to customers who say the bank manipulated debit-card transactions without their knowledge to increase revenue from overdraft fees, a federal judge ruled.

Wells Fargo changed the way it treated customers' daily debit transactions and cash withdrawals in December 2001, according to the lawsuit filed in 2007. Transactions with the highest dollar amount posted first, rather than in the order they occurred.
(visit the link for the full news article)


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posted on Aug, 11 2010 @ 08:26 AM
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The government siding with the people and not the bankers? Seems like a role-reversal! I know I've been screwed over by banks for this same practice, and I'm going to write a letter to the Attorney General to see if I can get my credit cleaned up and my money back.

I guess the elite banksters have stolen so much wealth from the middle and lower class that the system is collapsing, which could lead to incumbents being voted out after enough people get fed up so I guess we're gonna see a little positive change coming our way for a period of time.

It's nice to know that the banks don't have complete control to steal our money.

articles.latimes.com
(visit the link for the full news article)



posted on Aug, 11 2010 @ 08:28 AM
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It is about time!!!

I cannot begin to count how many times, a few years back, the bank hit me with these fees! My ex and I had just purchased two new cars and our account was always close to empty for about four or five months and it happened just about every single week during that period.

Now I hope that my bank loses a similar case!



posted on Aug, 11 2010 @ 09:49 AM
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Another bankster favorite is to allow you to get cash from the ATM without telling you there wasn't enough $$$ in your acct to cover the withdrawal, then bouncing the transaction and deducting their fees. The reason the bank gave? "We figured you REALLY needed that $$$ so we gave it to you." What a crock of sh!t!!!

Glad to hear of this victory!!!! ESPECIALLY as I'm now banking with WellsFargo!!



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