A federal judge has ordered Wells Fargo Bank to repay more than a million customers in California 203 million in fees for overdraft illicitly quotas - the culmination of a lawsuit initiated by the residents of Inland Empire class action.
U.s. District Judge William Alsup, United States District Court district north of California, San Francisco ruled his Tuesday finales.Dijo than "speculation" and "gouge" were the real motivations behind practice of processing cheques, debit card transactions banking giant, payments of much dollar at the lowest bill, instead of in the order of transactions took place.
Judge Alsup ordered Wells Fargo to stop posting transaction in order high to low before November 30 and to reverse charges overdraft charge customers from November 15, 2004 and June 30, 2008.
Redlands lawyer Richard McCune filed the lawsuit in September 2008, by adding a Fontana complaints substitute teacher, an entrepreneur of Yucaipa and a student of Walnut, who stated that they were charged of hundreds of dollars on overdraft fees.
"" This is an important decision for our customers and millions of customers just like them, who relied on Wells Fargo to protect your money and treat them fairly and honestly,"said McCune.""Wells Fargo win hundreds of dollars in income unlawfully obtained at the expense of their vulnerable customers".
Resident of Fontana, a substitute teacher Veronica Gutierrez said that she was slapped with $ 143 in time a week overdraft fees de.Una $ 33 overdraft rates was for a purchase of $ 3.23 in your debit card.
She says that she tried to resolve the matter with bankers, who refused to remove rates.
"I just never felt had been settled, and that is what comes to customer service," said Gutiérrez, 26, Wednesday.
In its judgement, Alsup said that given university education Gutiérrez and limited in time revenue costs, 143 $ overdraft fees was a significant amount of money for her to pay fines.
"Mrs. Gutierrez would not have made four purchases which gave rise to overdraft rates if she had advised or warned that each purchase - some as small as $ 3.23 - would be covered by a line of credit of secret shadow and assessed a $ 22 or a fee of $ 33, overdraft" Alsup wrote.
Wells Fargo had taken their overdraft policies in 2001, and became in widespread throughout the banking industry.
Wells Fargo Richele Messick spokeswoman told The Associated Press on Tuesday that the Bank is "disappointed" with the sentence.
"We do not believe the judgment is in line with the facts of this case and we plan to appeal," said.
Messick noted that Wells Fargo changed their policies at the beginning of this year, and customers already can engage in more than four overdraft charges in one day.
McCune, said that his lawsuit resulted in another class action lawsuit alleging similar practices with more than 30 other banks including Chase, Bank of America, Wachovia, Citibank, U.S. Bank and Bank of the Union as well as several banks more small. that is the case to be heard in federal court in Miami, he said.
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