Capital One Customers Win Class Cert. In Overdraft MDL
By Lana Birbrair
Law360, New York (June 22, 2012, 10:22 PM EDT) -- A Florida federal judge on Thursday certified a class of Capital One NA account holders in multidistrict litigation accusing the banking company of illegally manipulating debit card transactions to collect hundreds of millions of dollars in excessive overdraft fees, in violation of its contracts and state consumer protection laws.
In proceedings before U.S. District Judge James Lawrence King, Capital One checking account holders won class certification, which the bank had challenged on the grounds that the suit was filed after the statute of limitations ran out...