Texas Woman Hits IberiaBank With Overdraft Fees Suit

Law360, New York (October 21, 2010, 12:42 PM EDT) -- A Texas woman has launched a putative class action complaint against IberiaBank, claiming that its $35 overdraft fees for debit transactions amount to an unconscionable contract because they set up a system that fosters multiple charges.

Named plaintiff Gisela Eivet's suit, filed Wednesday in the U.S. District Court for the Southern District of Florida, says the bank could easily warn customers if their funds were insufficient to cover a transaction, but instead automatically hits them with fees in a bid to generate "obscene profits."

"In many...
To view the full article, register now.