$203M Overdraft Fee Ruling Against Wells Fargo Reinstated

Law360, New York (May 15, 2013, 2:03 PM EDT) -- A California federal judge on Tuesday reinstated a $203 million class action penalty against Wells Fargo Bank NA for processing debits in a manner that maximized overdraft fees, finding that the bank's marketing materials violated fraud provisions of the state's consumer protection law.

The ruling by U.S. District Judge William Alsup reinstates a penalty against Wells Fargo that had been partially overturned by the Ninth Circuit four months ago on the grounds that the National Bank Act prevents the use of California's unfair competition law to...
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