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Wednesday, April 24, 2024 | Back issues
Courthouse News Service Courthouse News Service

Wachovia Cheats, Customers Say

ATLANTA (CN) - Wachovia Bank defrauds its checking account holders by running up overdraft fees through "a non-chronological, largest-to-smallest system to order the posting of debits to customer accounts," a class-action complaint claims in Fulton County Court. "Wachovia routinely enforces a policy whereby charges incurred are posted to consumers' accounts in order of largest to smallest amounts, even when larger charges are received days after smaller charges ... in order to increase the number and amount of services fees it may impose upon consumers' accounts that are consequently overdrawn as a result of this practice," the complaint states.

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