Regions Latest To Be Nailed With Overdraft Fee Action

Law360, New York (January 27, 2012, 4:35 PM EST) -- Banking company Regions Financial Corp. was hit Friday in Georgia federal court with a proposed class action by debit card holders that accuses the bank of illegally assessing and collecting excessive overdraft fees, joining a number of banks who have recently faced similar allegations.

The putative class, led by Georgia drug rehabilitation providers Imani House LLC, claims that the bank has a manipulative policy of reordering transactions from largest to smallest in a given day, instead of assessing them chronologically, so that a customer overdraws sooner...
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