Hancock Bank Sued Over Excessive Overdraft Fees

Law360, New York (August 24, 2011, 11:42 PM ET) -- Hancock Bank was hit with a putative class action Tuesday in Florida federal court alleging the bank breached contracts with its customers by unfairly charging excessive overdraft checking fees.

The plaintiffs allege the bank not only charged high overdraft fees but also reordered debit transactions to maximize fees and failed to adequately disclose to customers that they could elect to opt-out of overdraft protection.

"Instead of simply declining debit transactions when there are insufficient funds, or warning its customers that an overdraft fee will be assessed...
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