Wachovia, Wells Fargo Can't Leave Fee MDL: Judge

Law360, New York (December 15, 2011, 3:55 PM ET) -- Wachovia Bank NA and Wells Fargo & Co. were the latest banks to lose a motion for arbitration Thursday in Florida in multidistrict litigation alleging many of the country's top banks bilked customers out of billions of dollars with egregious overdraft fees.

U.S. District Judge James Lawrence King denied the banks' motion to dismiss or arbitrate as untimely, arguing that Wachovia and Wells Fargo had passed up numerous opportunities to file for arbitration and disagreeing with the defendants' argument that they had no right to seek...
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