Wells Fargo Bank’s Overdraft and Non-Sufficient Funds Fees

August 2018: The case was transferred to federal court. (Case No. 18-cv-2033, S.D. Cal.)

July 2018: Plaintiffs filed an amended complaint adding allegations that the bank deceptively prompts consumers to perform a balance inquiry in order to charge multiple out-of-network ATM fees on withdrawals preceded by balance inquiries and deceptively represents that it only charges overdraft fees if an account does not have enough money to cover a transaction when, according to the complaint, the bank charges overdraft fees on transactions when the account has enough money to cover a transaction.

May 2018: A class-action lawsuit was filed against Wells Fargo Bank for allegedly deceptively representing that it will either charge an overdraft fee or charge a non-sufficient funds fee on a transaction (but not both) when, according to the complaint, the bank actually charges both fees on the same transaction. Plaintiffs claim that the bank charges a non-sufficient funds fee when it rejects paying a transaction and then charges an overdraft fee on the same transaction when it processes and pays the transaction again days later. (Lotsoff et al v. Wells Fargo Bank et al, Case No. 2018-00026392, California Superior Court – San Diego)

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