Zions Bank Sued For Alleged Overdraft Fee Scheme

Law360, New York (October 5, 2011, 7:19 PM EDT) -- A Utah woman on Wednesday launched a proposed class action accusing Zions First National Bank of violating customer contracts by manipulating the order of debit transactions to maximize profits from overdraft fees.

Zions Bank, which operates 130 branches across Utah and Idaho, had promised in a 2005 customer agreement to not process checks, ATM withdrawals and debit card transactions in any particular order, according to the complaint filed by Melinda Barlow.

Barlow claims that in practice, however, Zions posts the largest debit transactions first to customer...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.