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Recent Real Estate News

Wells Fargo loses overdraft fee case, CNNMoney, 8/11/10

By: Aaron Smith, CNNMoney, August 11, 2010


Wells Fargo was ordered to pay more than $200 million in restitution to California customers for manipulating and multiplying overdraft fees, a federal judge has ruled.

U.S. District Court Judge William Alsup of Northern California, in his 90-page ruling Tuesday, said Wells Fargo used "a bookkeeping device" that turned one instance of overdrawing an account into as many as 10, allowing the bank to multiply the number of fees it could collect from a single mistake.


Read more here: http://money.cnn.com/2010/08/11/news/companies/wells_fargo_overdraft/index.htm

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