Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
Wells Fargo Loses Bid to Dismiss Overdraft Fee Class Action Lawsuit
By Matt O’Donnell
Wells Fargo lost a bid to force customers into arbitration who are suing the bank for improper overdraft fees. The decision is a big win for Wells Fargo customers seeking refunds through a massive class action lawsuit known as In Re: Checking Account Overdraft Litigation.
Wells Fargo is just one of more than 30 banks involved in the consolidated case, which includes dozens of class action lawsuits accusing banks of reordering overdrafts to maximize fees. Many of the banks have already settled their portion of the case, including Bank of America, JPMorgan & Chase and U.S. Bank.
Wells Fargo attempted to get out of the class action lawsuit by trying to enforce a mandatory arbitration agreement it has with customers. A federal appeals court denied the request on Friday, however, ruling the bank can’t force arbitration after waiving its right to do so twice.
The court found that Wells Fargo asserted its right to force customers into arbitration after already putting them through a lengthy litigation process that lasted for years and yielded about 900,000 documents. Wells Fargo declined a trial court’s offer to arbitrate disputes in November 2009 and April 2010, and filed a motion to dismiss the class action lawsuit only after the Supreme Court ruled in April 2012 that federal law allows companies to force customers and employees to arbitrate claims individually.
Before the Supreme Court ruling, some state laws made arbitration clauses that contained class-action waivers unenforceable.
The motion to compel arbitration came too late, the court said, and would force Plaintiffs to “suffer substantial prejudice.”
The Wells Fargo Overdraft Fee Class Action Lawsuit case is In re Checking Account Overdraft Litigation, Case No. 09-md-02036, U.S. District Court, Southern District of Florida (Miami).
Updated October 30th, 2012
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
Top Class Actions Legal Statement
38 thoughts onWells Fargo Loses Bid to Dismiss Overdraft Fee Class Action Lawsuit
is this still going on? We just got slammed with a $35 fee and a $14 fee for an over draft of $4.99
my home is currently with Wellsfargo and it has been more
than 3 years since i have been try to get my modification done, they have prolong my file too long,
i would like to find out how i can be on this lawsuit chain
it is not fair, my health has gotten bad and life on hold for
too long…
i need results..
Desperate homeowner
Wells Fargo is pending my CASH transfers for 24 to 48 hours and charging overdraft fees.
I found it…Go to this website and it will give you a list of all the banks involved, and how to sign up: http://www.bank-overdraft.com/contact.htm
Me and my fiance’ would like to join the suit as well, where can we sign up. I also need to get on the Bank of America suit as well. Does anyone know???
I see alot of people want to join the lawsuit and so would I but did not see an answer into how to do this. Please advise.
yes they have manipilated me out of many hundreds of dollars on this practice
there are no words to tell how greedy they are. i can go on line and to the date see how much i have in my acct. but if i have 3 debts for $7.00 on the 1st and 1 debt for the 18th of the same month, they take out the large amount first and charge me for the several small ones. i pay 35.00 for 7.4,9.dollars because they take the large first to bounce all the small.
another customer getting screwed by wells fargo… they hold my electronic deposit paycheck on Thursday at Mindnight – funds to be available Friday at 8Am until Saturday or later – opportunistic to overdraft because it has not posted. They also do deposits last and debits first… by Monday, they have changed it back – showing it posted Friday – but at 6 PM Friday still showing pending and not available for balance. crooked as the day is long. Do you have to have an active account for this suit? I want out of this bank. have proof from years of this. – also they overdraft and charge for each item, but hold deposit made same day until end of day…. or overdraft when there is no need to -had enough funds to cover outstanding amounts, and od left a balance over necessary. advise please.
thanks
How do I join this class action.