Wells Fargo To Pay $203M To Overdraft Fraud Class

Law360, New York (August 10, 2010, 6:59 PM EDT) -- A federal judge has ordered Wells Fargo Bank NA to fork over close to $203 million in restitution for a class of account holders charged unfair overdraft fees as a result of unlawful deduction methods.

Wells Fargo must pay class members on a case-by-case basis according to the amount by which they were overcharged, Judge William Alsup of the U.S. District Court for the Northern District of California ruled Tuesday.

Judge Alsup issued his findings of fact and conclusions of law after a two-week bench trial...
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