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(EMAILWIRE.COM, March 10, 2012 ) New York, NY – ClassAction.org is investigating whether state and regional banks have been engaging in deceptive practices regarding unfair overdraft charges. Several of the country’s largest banks have already been hit with lawsuits alleging that they reorder their customers’ transactions to maximize the number of overdraft fees they charge. As these lawsuits progress and begin to resolve, ClassAction.org would like to hear from patrons of smaller banks to determine if they have been subjected to similar practices. If you have been hit with an unfair overdraft charge from your state or regional bank, visit http://www.classaction.org/unfair-overdraft-protection-fees.html to find out if you have legal recourse to seek compensation from your bank.
According to allegations, certain banks are engaging in a practice which allows for them to “re-order” a customer’s transactions to increase the amount owed in overdraft charges. If a consumer makes several debits during a single day, the banks will allegedly process the largest transaction first, regardless of the order in which they were made. For instance, assume a consumer with $200 in their checking account makes four $50 transactions in the morning, followed by a $100 purchase later that day. Instead of charging one overdraft fee for the $100 debit, the bank will process the $100 purchase first, and charge overdraft protection fees twice for two of the $50 debits made earlier in the day.
Overdraft protection plans save consumers from embarrassment and inconvenience by providing that the bank will not refuse a debit card purchase for insufficient funds. However, it is believed that certain banks may be taking advantage of the way they process overdraft fees under these plans. Several larger banks have faced legal action over allegedly unfair overdraft fees, and ClassAction.org is looking to determine whether smaller banks have engaged in similar practices. If you believe you have been charged an unfair overdraft fee from your local bank, visit ClassAction.org for a free online consultation. You may have legal recourse to seek compensation for your unfair overdraft charge claim.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.
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