Instead of posting each transaction chronologically, the evidence presented at trial showed that Wells Fargo deducted the largest charges first, drawing down available balances more rapidly and triggering a higher volume of overdraft fees.
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Commenting on the Court's decision, lead trial attorney Richard M. Heimann stated in part:
"Today, a federal court enjoined Wells Fargo from continuing its practice of manipulating their customers' accounts for the sole purpose of generating massive bank fees. These unfair practices cost California consumers huge amounts of money, and we are pleased that the Court has ordered Wells Fargo to return $203 million of its ill-gotten gains to its customers.
We are grateful for the opportunity to try this case in order to successfully reveal that the bank's true motives behind its overdraft bookkeeping were profiteering and the gouging of its customers. Wells Fargo's after the fact excuses were soundly rejected by the Court, and rightfully so, as it not only never made an honest effort to disclose its true practices to its supposedly valued customers, but worse yet, misled them.
This is not only an actual victory for Wells Fargo customers, but a symbolic victory for consumers throughout the country who are subjected to these kinds of oppressive business practices."
To find more info on lawsuits aimed at stopping unfair overdraft fee practices visit: http://www.bank-overdraft.com
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I had the same thing happen to me with Wells Fargo and was charged more than $300 in overdraft fees when trying to close my account. I talked to the staff at the time about what they were doing, but no one seemed to care. I am in Washington state, is there any sort of retribution for people not in California who encountered the same issue?