Banks

     Eleven Banks sued Merrill Lynch in Hartford Superior Court, claiming it fraudulently propped up the auction rate securities market in the summer of 2007, costing them millions of dollars when the market collapsed.




     Plaintiffs in the Merrill Lynch case are Dime Bank, Stafford Savings Bank, Putnam Bank, Thomaston Savings Bank, Northwest Community Bank, Eastern Federal Savings Bank, Bankers’ Bank Northeast, Naugatuck Valley Savings Bank, First National Bank of Litchfield, Guilford Savings Bank, and The Wilton Bank.
     
     US Bank is the latest to face a class-action accusing it of charging overdraft fees (of $37.50 each) though customers’ accounts have money to cover the debits, in San Francisco Federal Court.

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