Ship Has Sailed For Wells Fargo Overdraft Arbitration: 11th Circ.

Law360, New York (October 26, 2012, 6:27 PM EDT) -- The 11th Circuit on Friday ruled that Wells Fargo & Co. had missed its opportunity to compel a putative class of customers suing over disputed overdraft fees into binding arbitration after twice rejecting the option, upholding a lower court ruling against the bank.

In a unanimous 14-page opinion, a three-judge panel rejected Wells Fargo's contention that it would have been futile to move for binding arbitration on an individual, rather than classwide, basis before the U.S. Supreme Court's April 2011 decision in AT&T Mobility LLC v....
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