Tag Archives: overdrafts

Wells Fargo Must Pay $203M To Customers After Supreme Court Rejection

by Ashlee Kieler, Consumerist

In 2010, the judge in the case ordered the bank to pay the $203 million to customers of Wells Fargo who were affected by the overdraft policy between Nov. 2004 and June 2008. … At issue in the appeal to the Supreme Court was whether or not previous courts were right to certify the class action even though the class included individuals who were not harmed by the company’s conduct — in this case Wells Fargo allegedly making misleading statements to checking account customers about how their transactions would be posted and the likelihood that an overdraft would result. Read More ›