A federal bad-faith bank fee suit filed against Wachovia joins similar suits pending across the U.S. against Wachovia as well as Bank of America and Wells Fargo, accusing the banks of deceptive practices intended to maximize profits at the expense of customers and challenging bank policies governing the assessment of overdraft fees. Last year, Bank of America set aside $35 million to settle a California suit with bank customers who claimed the bank posted debit transactions to accounts in high-to-low order.
March 17, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
At the end of Oct. 24 last year, Fulton County, Ga., resident Ken Vollmer had $229.01 in his Wachovia bank account, according to his online statement.
Three days later — after weekend expenditures totaling $297.56 and an $85.56 refund — Vollmer’s bank account should have had a balance of $17.01.
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