Union Bank Customers Win Class Cert. In Overdraft MDL

Law360, New York (July 26, 2011, 10:40 PM EDT) -- A Florida federal judge on Monday granted class certification to Union Bank NA customers in multidistrict litigation accusing multiple banks of breaching contracts by unfairly charging exorbitant overdraft fees.

The plaintiffs say that Union Bank “engaged in a systematic scheme to extract the greatest possible number of overdraft fees” from customers by employing a bookkeeping trick to resequence debit card transactions from highest to lowest dollar amount at the time of posting, causing funds in customer accounts to be depleted more rapidly.

The proposed class would...
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