Court sides with Wells Fargo in overdraft-fee case

12/27/2012 | Bloomberg · Wall Street Journal, The

A U.S. Court of Appeals has thrown out a lower court's ruling that Wells Fargo must end its practice of ordering debit card transactions in a way that would maximize overdraft fees and must pay $203 million to customers. Wells Fargo's method is a "federally authorized pricing decision," the court said. It also found Wells Fargo liable for fraud violations of California's unfair-competition law.

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Bloomberg · Wall Street Journal, The

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