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(EMAILWIRE.COM, May 11, 2012 ) New York, NY – The attorneys working with ClassAction.org are available to review unfair overdraft complaints from customers of state and regional banks to determine if they were unfairly charged when they overdrew their accounts. It has been alleged that certain banks are not processing debits in the order they occur, but rather in a highest-to-lowest sequence, which allows for them to maximize the amount of overdraft fees they charge, and in turn, increase their profits. A number of larger financial institutions are in the processing of settling lawsuits making these claims, and our attorneys are looking to determine if customers of localized banks are experiencing similar problems. Potentially, these individuals may also have legal recourse to recover compensation for these charges. If you have an unfair overdraft complaint against your state or regional bank, find out if you can make a legal claim for these charges by visiting http://www.classaction.org/unfair-overdraft-protection-fees.html and completing the form on the right. There is no cost or obligation for this online case review.
The manner in which some banks are allegedly reordering customers’ transactions can be best described with an example. A consumer with $100 dollars in their account makes five $20 dollar debit purchases during the morning, followed by an $80 transaction that evening. Rather than process the five $20 transactions first, the bank will process the $80 purchase first so it can charge an overdraft fee for four of the $20 debits made earlier in the day, rather than a single charge for the $80 transaction, according to consumer allegations. If the bank charges $35 per overdraft, this individual will have racked up a total $140 in overdraft fees, all for a days’ worth of purchases.
The purpose of overdraft protection plans is to save consumers from embarrassment and provide peace of mind and convenience. However, it is believed that smaller, regional banks may be participating in the same unfair overdraft practices which were allegedly carried out by larger, nationwide financial institutions. If you suspect your regional bank has reordered your transactions, either by debit card or check, you may be able to participate in a potential lawsuit to recover compensation. To learn more about legal recourse for unfair overdraft complaints, visit ClassAction.org today.
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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