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(USGovernment-News.Com, December 18, 2012 ) New York, NY – The attorneys working with ClassAction.org are available to hear complaints from First Republic Bank customers who suspect they were unfairly charged overdraft fees. They are looking into the overdraft protection policies of local and regional banks, and need to hear from customers of First Republic Bank to assist in their investigation. Many of the nation’s largest banks have been hit with lawsuits alleging that they reordered their customers’ transactions to maximize the amount of overdraft fees they could assess. It is believed that smaller, regional banks may be engaging in similar practices. If you were charged overdraft fees by First Republic Bank after your transactions were reordered, visit http://www.classaction.org/unfair-overdraft-protection-fees.html for more information and a free consultation.
At least 14 major banks have agreed to settlements related to overdraft protection policies. In these cases, it was alleged that the banks were processing their customers’ transactions in a highest-to-lowest sequence, rather than the order in which they were made. As a result, customers’ accounts would be drained more quickly, allowing the bank to collect more overdraft fees, according to the lawsuits. For instance, assume a customer had $45 in their account and made three transactions in the following order: $35; $10; and $75. In this example, the bank would allegedly process the last – and largest – transaction first, causing the customer to be charged three overdraft fees. If the transactions were processed chronologically, the customer would only be assessed one overdraft fee.
First Republic Bank has not been named in the lawsuits making these allegations. However, if you believe you were unfairly charged overdraft fees by First Republic Bank, with locations in California, Connecticut, Massachusetts, New York and Oregon, or any other local bank, please visit ClassAction.org for a free, no obligation review of your charges.
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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