Class Action Targets Bank Of The Ozarks' Overdraft Fees

Law360, New York (November 26, 2012, 7:43 PM EST) -- A consumer hit Bank of the Ozarks with a nationwide class action in Florida on Wednesday, claiming the bank engages in numerous practices to maximize the amount of overdraft fees it collects, including the intentional manipulation of customer transaction records.

Plaintiff Michael Arnold alleges that, in addition to using sophisticated software that illegally manipulates customer account information in order to boost income from overdraft charges, the bank violates the Electronic Funds Transfer Act by failing to inform consumers of its overdraft fee policy when they open...
To view the full article, register now.




Case Information

Case Title

Arnold v. Bank of the Ozarks

Case Number



Florida Middle

Nature of Suit

Contract: Other


Richard A. Lazzara

Date Filed

November 23, 2012

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.