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Union Bank Customers Win Class Certification In Overdraft MDL
Law360
July 26, 2011
A Florida federal judge on Monday granted class certification to Union Bank NA customers in multidistrict litigation accusing multiple banks of breaching contracts by unfairly charging exorbitant overdraft fees.
The plaintiffs say that Union Bank “engaged in a systematic scheme to extract the greatest possible number of overdraft fees” from customers by employing a bookkeeping trick to resequence debit card transactions from highest to lowest dollar amount at the time of posting, causing funds in customer accounts to be depleted more rapidly.
The proposed class would consist of all Union Bank customers in the U.S. who incurred an overdraft fee through August 2010 as a result of the bank's debit card transaction sequencing practice.
Learn more about the bank overdraft lawsuits [link to the bank overdraft page on our website]