Complaint Review: Regions Bank - Internet Internet

Here's a scenario for you:

You have $100 dollars in your account. You make a budget to make sure you get your money where you need it to go. You plan that there are 7 $10 dollar transactions that need to be made with this $100. Great! You have $30 left. Then, at the end of the day you realize that today is the day your $70 electric bill is due! You realize that will put you ($30), and you will have to pay a $36 NSF fee. And That will put you at ($66), but you want to make sure your bill is paid on time and that's what overdraft protection is for, right? For when you mess up.

So you pay it.

And the next day you check your balance and instead of ($66), you are ($184)! How did this happen?

The bank arranged your transactions like this:

$100
-$70
-$10
-$10
-$10
-$10
-$10
-$10
-$10
= ($40)

And then there's a big fat $144 NSF fee rather than one $36 NSF fee. 360% interest. Let that sink in.

You fully understood you would be overdrawn. You mentally accepted the ONE NSF FEE in accordance with the terms of the overdraft protection that the bank OFFERED TO YOU. This may be common industry practice, but Steve, if you consider this a fair consumer practice then we'll all consider your financial self-righteousness to have exceeded any realm of logic that a we mortals work with and will graciously bow out of this ring.

You claim that the bank stole your money, so file a police report! Problem solved. You admitted that you overdrafted, so what's the problem? Therefore, you DO NOT manage your account properly, and you paid the price that you agreed to in your terms and conditions.

It is real simple. No overdraft, no fees. Works for me, and has for over 30 years. No problems. To Ronny, I fully understand what you are saying, and I know how to do research and post things here. However, this is such a tired subject, I just don't have the desire to wast emy time on stupidity.

If people do not overdraft their accounts, they will never pay overdraft fees. Period. Get a grip.

Recently I had to overdraft my account because of unforeseen circumstances... Ok, I knew what I had done and expected to pay ONE NSF fee, right? Wrong! Regions rearranged my debits so that the largest (the one I expected to pay the fee for) came first instead of last. They stuck me with four NSF fees and when I contacted them about this, numerous times, I was given some lame scripted rebuttal explaining to me that this was common practice with banks and there was nothing I could do to get my money back. I kept every receipt with the time/date stamp in case something like this happened. Also, I got a mini statement from the ATM before I took out that last withdrawal and it showed a positive balance, the same balance I had in my very detailed register. Upon withdrawing the funds, I got another receipt showing the overdraft. I also had every receipt from every transaction that had been made from this account. Then, I came home, checked my account online and all transactions were in the correct order, so I printed that page. Two days later, however, I check again and LO AND BEHOLD, my transactions had been rearranged. I am very organized, keep a very detailed register, so I don't want to hear this BS about keeping track of your money. I do keep track of what I spend, and while I do concede that I did overdraft on one debit, that does not justify the way these banks finagle things to their own advantage. I am disgusted and angry.

In case Steve or anyone else can not figure out how to copy and paste the links I left into their computers browser...or do not know how to investigate...here is an article regarding the topic pasted from Tampa Bay com website from August, 2010..

Wake up and good morning. All those complaints by bank customers that their financial institutions gouged them by ordering account overdrafts to maximize fees may now be reaching a tipping point. Federal lawsuits regarding overdraft fees now consolidated into one class-action suit in Florida this week were given a legal road map by a judge's ruling in a related case in California.

Various lawsuits claim that big banks -- including Bank of America, Citibank, JPMorgan Chase, U.S. Bank, Wachovia and Wells Fargo (which now owns Wachovia) -- manipulated transactions to maximize overdraft fees. In California on Tuesday, afederal judge ordered Wells Fargo to pay California customers $203 million in restitution for claims that it had manipulated transactions to maximize the overdraft fees it charged. As reported by the New York Times, instead of processing transactions in the order in which they were received, Wells Fargo put through the largest to smallest,U.S. District Judge William Alsupin San Francisco wrote in a stinging 90-page opinion, calling the practice unfair and deceptive. Said Alsup:

"The banks dominant, indeed sole, motive was to maximize the number of overdrafts and squeeze as much as possible out of customers who spent more than they had in their accounts."

Wells Fargo collected an astonishing $1.4 billion in overdraft fees in California alone from 2005 to 2007. The bank said the ruling was in accurate and plans to appeal. Here's the New York Times story and here's Judge Alsup's opinion.

As Alsup noted, the core of this controversy focuses on a bookkeeping device adopted by the bank called "high-to-low resequencing" that transforms one overdraft into as many as ten overdrafts -- tenbeing the voluntary limit the bank imposed on what could otherwise be an almost limitlessprospect.

This week's California ruling should help the consolidated federal class-action suit in Florida. Earlier this year. a Miami judge ruled that the big banks could not derail the class-action attempts.U.S. District Court Judge James Lawrence King said consumers pursuing these lawsuits are "not trying to prevent banks from engaging in the business of banking, they are merely asking the banks to do so in good faith."

More recent overdraft changes instituted by Bank of America and other big banks -- as well as new bank regulations restricting how banks charge overdrafts -- may ease the pain of consumers previously blindsided by those banks allowing (but not informing) customers to overdraw their accounts and then incur stiff overdraft fees. But the class action lawsuits are aimed at wrongdoings that already have occurred and could mean some restitution for the millions of bank customers earlier zinged by the piling on of overdraft charges produced by banks' use of the "high-to-low resequencing" strategy of gouging their own clients.

New federal rules on debit card overdraft fees require banks to get your permission for overdraft protection. The requirement for new accounts went into effect July 1, and the rule for existing accounts goes into effect Aug. 15. Some consumer advocates urge consumers to forego the overdraft protection programs and choose less-expensive alternatives, such as linking a checking account to a savings account to cover overdrafts.

-- Robert Trigaux, Times Business Columnist

Here is a list of the banks currently in Federal Court in Miami..

Lawsuits have been filed against the following banks in the bank overdraft litigation:

* Bank of America

* Branch Banking & Trust (BB&T)

* Citibank

* Fifth Third Bank

* Huntington National Bank

* JPMorgan Chase

* Keybank

* M&T Bank

* National City Bank

* PNC Bank

* SunTrust Banks

* TD Bank

* Union Bank

* U.S. Bank

* Wachovia

* Wells Fargo Bank

In response to numerous consumer complaints, similar investigations into improper and excessive bank overdraft fees are in progress against the following banks:

* Capital One Bank

* HSBC

* RBS

* Regions Bank

* TCF Bank

In closing, let it be clear that no one is blaming the bank for overdrafting or complaining about the price of an overdraft fee. The complaint is regarding the "bad faith" used by the bank by using tactics and manipulations engineered by the BANKS, to gouge a percentage of their customers due to a mistake. Sure not making a mistake would prevent the fees, but it seems several million customers made mistakes, and this was not enough to excuse the banks from gouging them out of BILLIONS of dollars regardless. So a lawsuit was the last and only resort to fight the greedy bastards. If the banks would have simply charged fees justly, there would have been no need or grounds for lawsuits and regulation changes. There is NO ONE but the banks that can be blamed for that, and by them being forced to be accountable and responsible was the only way to handle those who can not figure out how to do this on their own. The banks made their bed..and now they lay in it.

...here is what I got so far..

Report comes in regarding a customer from Alabama who claims to have been screwed by Regions bank rearranging the charges out of order to maximize profit and states there should be a class action lawsuit against the bank.

I post that there is one and the bank is under investigation. I also state other safe guards such as keeping a register ledger and to opt out with the debit card if he is not already. I also state a lawsuit regarding this has already been won against WF, and other banks that have been doing this are in a current lawsuit in Miami.

Steve comes in blaming the OP and the state of California.

He states this would only happen in California and would never make it to court in another State.

Well, it seems Steve not only did it make it to court in another state..but seems it is in YOUR state...Florida. Quoted from http://www.bank-overdraft.com/news/2010/20100311-press.php dated March 2010..

"The complaints were filed in the United States District Court for the Southern District of Florida in Miami, where all federal lawsuits brought against the banking industry for abusive overdraft fees have been coordinated before Judge King."

So if you wish to debate the topic at hand...fine. But do some research. If you wish to just spread hatred and anger and bash California...well you are free to do that as well but it does not in any way shape or form make your case. It just makes you like like an Archie Bunker.

Granted, the State is poorly run. I have only been here for a little over 2 years, but I have lived in 4 other states as well in my lifetime. And according to my friends/family/news...Cali is not the only state suffering right now. If you want to go off topic of the report, lets talk about the banks part in the current economic collapse that has over 10% of the country unemployed and people losing their homes like never before. Oh, granted many citizens were foolish and tried to live beyond their means...but who gave the mortgages and then sold these crappy mortgages back and forth until it was finally realized they were crap? And now they are foreclosing on some people who did make payments...seems the bank forgot to read their own terms.

And speaking of "terms"...if a contract is not used in "good faith" it can be considered void. Which is why it did not work as a defense in the WF lawsuit, nor as a defense during the dismissal stage of the current lawsuits and many banks from many states in the current lawsuits that are consolidated in a Federal Court in Miami. Any problems with that, debate the Federal Judge in Florida..I am only posting the FACTS. I just happen to agree with them as well.

Okay..fair debate...let's just stay on point. You stated..

"All of this posting order nonsense is just that. Nonsense. And, ONLY in CA would this ever make it in court because everything that is screwed up in our entire country started in CA."

I guess you are not aware that CURRENTLY..as we are debating and state that only in CA would this make it to court..are you REALLY that ignorant and unaware that almost every major bank is in a LAWSUIT right NOW. It make it to court, all attempts by the banks to have the charges dismissed were denied by the Judge..So what are you talking about. Get your facts straight.

"Here is the logic.

If a person properly maintains their account as AGREED in the terms and conditions they got a copy of when they opened the account, they would not ever have a problem."

How do you know? What logic are you using to conclude that customers will never make mistakes?

"Posting order is only important to those who do NOT properly maintain their account, in accordance with the terms and condition of that account."

Apparently millions of customers, the courts, Judges and lawyers disagree.

"If you do not overdraft your account in the first place, posting order is IRRELEVANT."

And if you never parked a car you would never get a parking ticket..right? Some "logic". If you mess up and get a parking ticket you pay it. But if you got several parking tickets for the same offense you would probably figure there is some hanky panky going on. Some would just pay it and blame themselves (we call those "suckers"), and some would fight it to make it fair...we call that "rights".

"How hard is this for people to understand?"

who doesn't understand?

"Just manage your account PROPERLY and you will NEVER have a problem with NSF fees or posting order."

Well if you never made a mistake with numbers in your life perhaps it does not matter to you..but billions of dollars were wrongly taken by the banks over the years due to fraud and deceptions and tactics "engineered" used by the banks...Hence the one in CA was lost by the bank..and ALL the rest currently which were consolidated to one Federal Court in Miami is going to decide for the rest.

"Posting order is TOTALLY IRRELEVANT to me, because I don't overdraft my account. Never have."

So stop debating here.

"The problem is that most people, especially in CA want someone else to blame for their own mistakes."

The Bank lost..hence it was PROVEN in a court of law..that the bank was at fault. These reports have come from a lot more states then just CA...the banks took in over 40 BILLION dollars in these types of fees in 09 alone..WF in CA only accounts for 200 million.

"That is the mentality that caused CA to go broke, and be the #1 welfare state in the nation."

So tell us since you seem to be the new ROR financial expert/economist. What mentality caused this ENTIRE nation to go broke? Did the banks play a part or are you going to blame everyone else at not hold the actual guilty parties accountable?

the related articles on the web, right?

NATIONWIDE ALERT: Make sure to stay at this site and type in- BANK OF AMERICA and read the Ripoff Reports for valuable information.

Thank You

And, it is "splitting hairs" one will "split hairs", not "cut hairs". You go to the barbershop to get your hair "cut". You stay on ROR to "split" hairs.

Now, getting back to the topic at hand, as you are still missing the point, and the "logic".

All of this posting order nonsense is just that. Nonsense. And, ONLY in CA would this ever make it in court because everything that is screwed up in our entire country started in CA.

Here is the logic.

If a person properly maintains their account as AGREED in the terms and conditions they got a copy of when they opened the account, they would not ever have a problem.

Posting order is only important to those who do NOT properly maintain their account, in accordance with the terms and condition of that account.

If you do not overdraft your account in the first place, posting order is IRRELEVANT.

How hard is this for people to understand?

Just manage your account PROPERLY and you will NEVER have a problem with NSF fees or posting order.

Posting order is TOTALLY IRRELEVANT to me, because I don't overdraft my account. Never have.

The problem is that most people, especially in CA want someone else to blame for their own mistakes.

That is the mentality that caused CA to go broke, and be the #1 welfare state in the nation.

"....every normal American citizen since the DAY they were born, had it BEAT into our f*king heads to put our money in the bank.

Yes, I did state this. I address the following to Robert from Buffalo...who has on occasion taken liberty to personally attack me on this website.

I stated the above, because I remember as a child, my grandmother (rest her soul) used to rip me new assholes because I would refuse to put my money in the bank..bear in mind I was like 8 years old at the time.

What I told her was that I did not trust the banks, so I kept my cash under my mattress. She told me that I need to open a bank account. I asked her "well what if the bank goes bankrupt?"....to which she replied "it is backed by the government".

I admit to being a smart a*s...so at 8 years old..I came back at her with.. "well what if the government goes bankrupt?"...

I guess I struck a nerve because her face turned red as a beet..and then she yelled at me .."if the government goes bankrupt, we are all screwed!!!"...

Now in hindsight, this makes a bit of sense..which is why I did end up putting my money in the bank..and getting SCREWED by the bank..but in the case of my screwing..I only blame the bank..not the government.

But when you really look at the facts and truth.and see that there is actually a chance that the government can go bankrupt..(or whatever you call owing trillions of dollars and own NOTHING of substance or solid collateral..one has to wonder...if I as an 8 year old had better financial sense then an 80 year old woman.

First to Steve Mr. "once again"...

"The posting order of transactions is TOTALLY IRRELEVENT unless you are "floating" transactions."

It is spelled "irrelevant" but lets not cut hairs. The complaint here is regarding POSTING ORDER which was manipulated by the bank, to maximize fees...no other reason. The customer (OP) does not seem to be complaining about an overdraft fee per say..but only that the bank screwed him by "rearranging" the charges out of order. What on EARTH does this have to do with "floating"?? Maybe you need to read a little slower? I admit myself to putting foot in mouth by responding to a report or reply and not reading it carefully enough. To survive on this site and try to be some kind of self appointed moderator of "judge" of others and avoid a lamb basting..you had better learn to do the same.

"This is really such a simple concept that even you should be able to understand it.



Lets say you have $100.00 in your acount, as per your BALANCED, ACCURATE, CHECKBOOK REGISTER.



You write 1 check for $25.00



You make 4 debit purchases, 15,00, 10,00, 28.00, and 21.00.

That is 99.00, so you have $1 left."

This is just a first grade arithmetic lesson Einstein..how does this allow the bank or make it right for them to re-order any transactions which in turn cause fees to be applied to transactions that DID in all fairness have the funds AVAILABLE at the TIME of the transaction? If you can not determine how WRONG this is for a trusted bank to do to a customer who makes a mistake..then I might as well be debating with a shoe.

"Now, if you IMMEDIATELY recorded each one of these transactions in your CHECKBOOK REGISTER, you would have $1 left over, and no overdraft fees.

It makes NO DIFFERENCE as to which order the bank posts them, as the money is already gone as per your checkbook register, right?"

No one but you seems you be debating what can cause an overdraft fee.

"This should not be a hard concept, even for a know it all genius like you.

But, you are upset because you are one of those people who does NOT keep an ACCURATE checkbook register, and most likely pays, or has paid NSF fees due to this STUPID practice."

This is not about me. I never stated on this report that I paid any NSF fees.

"FYI..I am not now, nor have I ever been a bank enployee. I am 47 years old and have had checking accounts since age 14. I have NEVER paid even 1 NSF fee in my entire life of banking. NOT 1!"

Well then you are perfect and millions of other made a mistake. Does this mean it is right that the banks took advantage of it by re-ordering transactions? apparently the United States legal system which consists of educated Judges (are you a Judge?) seem to agree with my side.

"Why? Because I was taught at age 14 to keep an accurate checkbook register and to never "float" transactions. It works.



Furthermore, there has NEVER been 1 successful lawsuit against a bank for "posting order" to manipulate fees. Not 1. So, what does that tell you?



It tells me that a lot of people are stupid and/or lazy and want someone else to blame for their own bad financial management practices.

Maintaining a checkbook register is nothing more than 3rd grade math."

No one has stated that we anyone should not keep a register. What I have stated, is that in the case of the bank re sequencing due to a mistake, that the register can do nothing to prevent or warn a customer that by the bank re sequencing the posting orders..can turn one legitimate overdraft fee into many...kindly follow the rest of my response..take a deep breath..no need to be so hateful and angry and critical judgmental all the time...no one is out to get you...

Now..to Robert of buffalo...

"or if they never went outside, they would never get bit by a rabid squirrel and get rabies???? Comon dude,....give US a f*king break....every normal American citizen since the DAY they were born, had it BEAT into our f*king heads to put our money in the bank.

Ahhh! That's the Great and Powerful Roz we've come to love!!!"

Glad you love me..I was suspect. But kidding aside..I am very impressed whether it matters to you or not..that you have the intelligence to understand why the register defense, and defending the bank in THESE cases, have FAILED.

For Steve...simply go here..a PDF of the COURT'S ORDER regarding the Wells Fargo overdraft/ re-sequencing lawsuit they LOST (not settled) in California..

http://www.bank-overdraft.com/pdf/20100810-wells-fargo-finding.pdf

And then go to the links below to READ about the rest of the banks that have been RIPPING off customers by this re-sequencing TACTIC...which covers most of the big banks (or around 25% of banks overall who decided to fleece customers this way illegally)..and in many states...since there were so many similar lawsuits...they have decided to consolidate all of them to one Federal Court in Miami...and in all likelihood..will result in the same verdict as the recent WF case which was WON (not settled) in California..

Read and learn..or stay away from this topic because you are starting too come off as a real d****e bag.

http://www.bank-overdraft.com/pdf/20101216-opinion-setting-standards.pdf

http://www.bank-overdraft.com/news/2010/20100311-press.php

http://www.bank-overdraft.com/case-index.htm

http://www.bank-overdraft.com/faq.htm

http://www.bank-overdraft.com/documents.htm

The ruling is 90 pages and was filed in the CM/ECF document system on Aug 10, 2010.

Case3:07-cv-05923-WHA Document476 Filed08/10/10 Page1 of 90

Read the ruling....

You're still mistaken. There were orginally two classes to the lawsuit and one class was indeed decertified. The lawsuit went forward with ONE class.

The recent ruling and opinion of the court (from Aug 2010) is posted on line here:

http://www.bank-overdraft.com/pdf/20100810-wells-fargo-finding.pdf

I read the ruling via my PACER account and recently found the ruling posted on line.

The judge hammered WF for the deception, marketing, and posting ordered combined. The link I posted above is only ONE document (63 pages) of many-the final OPINION of the Federal Judge to justify his findings of fact and order.

WF LOST this class action. Now, this lawsuit was not based SOLELY on the posting order but rather the posting order and the deliberate actions of WF to deceive and profiteer. It was the combination of posting order, comingling of deposit account transactions, and deliberate obsfucation of their "advertised" policies, including their account agreements that the judge dang near condemned WF.

Read the RULING/OPINION Steve.

DECERTIFIED

That class action was DENIED.

It went nowhere.

Read the entire case, to date.

DENIED. DECERTIFIED.

Thanks Robert,

But CA doesn't exist in my world. CA is not part of the United States in my opinion.

I'm waiting for AZ waterfront property myself.

I don't recognize CA.

Furthermore, there has NEVER been 1 successful lawsuit against a bank for "posting order" to manipulate fees. Not 1. So, what does that tell you?

Sorry buddy, but the california lawsuit against Wells Fargo was indeed about the posting order and the deliberate efforts of WF to profiteer from consumers. It's a very interesting read.

It was about the deceptive tactics and posting order/combinations that WF initiated for the SOLE PURPOSE OF PROFITEERING from consumers. The judge NAILED WF. This particular class action was only applicable to CALIFORNIA consumer deposit accounts.

The case is available on the internet. Case number No. C 07-05923 WHA

or if they never went outside, they would never get bit by a rabid squirrel and get rabies???? Comon dude,....give US a f*king break....every normal American citizen since the DAY they were born, had it BEAT into our f*king heads to put our money in the bank.

Ahhh! That's the Great and Powerful Roz we've come to love!!!

To Ronny G,

The posting order of transactions is TOTALLY IRRELEVENT unless you are "floating" transactions.

This is really such a simple concept that even you should be able to understand it.

Lets say you have $100.00 in your acount, as per your BALANCED, ACCURATE, CHECKBOOK REGISTER.

You write 1 check for $25.00

You make4 debit purchases, 15,00, 10,00, 28.00, and 21.00.

That is 99.00, so you have $1 left.

Now, if you IMMEDIATELY recorded each one of these transactions in your CHECKBOOK REGISTER, you would have $1 left over, and no overdraft fees.

It makes NO DIFFERENCE as to which order the bank posts them, as the money is already gone as per your checkbook register, right?

This should not be a hard concept, even for a know it all genius like you.

But, you are upset because you are one of those people who does NOT keep an ACCURATE checkbook register, and most likely pays, or has paid NSF fees due to this STUPID practice.

FYI..I am not now, nor have I ever been a bank enployee. I am 47 years old and have had checking accounts since age 14. I have NEVER paid even 1 NSF fee in my entire life of banking. NOT 1!

Why? Because I was taught at age 14 to keep an accurate checkbook register and to never "float" transactions. It works.

Furthermore, there has NEVER been 1 successful lawsuit against a bank for "posting order" to manipulate fees. Not 1. So, what does that tell you?

It tells me that a lot of people are stupid and/or lazy and want someone else to blame for their own bad financial management practices.

Maintaining a checkbook register is nothing more than 3rd grade math.

..which is why so many banks are being SUED so they stop this nonsense.

Sure...any "armchair" quarterback d****e bag can sit on their mighty thrown of perfection and tell others how if they didn't do this or that..well why not tell someone if they didn't eat they would never get obese?..or if they never drove a car, they would never get into a car accident??..or if they never went outside, they would never get bit by a rabid squirrel and get rabies???? Comon dude,....give US a f**king break....every normal American citizen since the DAY they were born, had it BEAT into our f**king heads to put our money in the bank..as it is backed by the US government..and who else can we trust if not the US government?????????

Uhhh, The recent Wells Fargo LAWSUIT that was LOST by the bank in the state of California..has not only COURT ORDERED the bank to stop re-sequencing in this fashion..but as well is COURT ORDERED to pay back 200 MILLION dollars...no..let me spell that out...TWO HUNDRED f**kING MILLION dollars to the VICTIMS of this SCAM conducted by the bank. Yes..the lawyers will get a hefty chunk..but the plaintiffs as well will not only recover something..but this LAWSUIT has PREVENTED..by COURT ORDER...the bank from continuing this God awful unethical tactic(s) in this beloved state. The rest of the banks will follow suit once they are beat down in the Miami lawsuits.

GOD bless America and it's JUSTICE system that on occasion..WORKS.

I can not tell you how much I wish that lawsuits were not necessary..and as much as the d****e bags hate to admit..very rarely, if EVER do frivolous lawsuits make it to bench..but you know what???? Once in a while class action lawsuits are the ONLY thing..and EXACTLY what it takes with what we have left of our justice system to make a difference and to correct a WRONG.

So shove the register up your A*S..unless you can take the time out of your busy life to actually look at the grounds for the lawsuit..and offer anything of value to the plaintiffs who are NOT complaining about an overdraft fee or the cost of an overdraft fee...but the manipulations that have allowed the greedy banks to turn one "legit" fee, into more then one "unjust" fee. Do you understand the difference??..or are you so filled with self hate and hatred of others that you can not possibly understand right from wrong???

The posting order makes absolutely no difference IF you had the money in the account BEFORE you made the transaction.

The ONLY way to avoid this is to keep an ACCURATE checkbook register. You must do this to avoid NSF fees.

You see, when you keep an accurate checkbook register, that money is gone at the time you write the check or make the debit transaction. Therefore you won't "re-spend" it.

Then there is the spouting of the "we need a class action lawsuit" thing. Total stupidity here. Nobody makes anything off a class action other than the lawyers.

No rip off here. Just another person who cannot figure out a checkbook register.

read this... http://www.bank-overdraft.com/case-index.htm

submit case here... http://www.bank-overdraft.com/contact.htm

Wells Fargo recently lost a class action lawsuit here in California and were court ordered to stop resequencing in a way that maximizes fees. They also are ordered to pay back 200 million of any fees caused by the re-sequencing. However, they of course do not have to pay back any legitimate overdraft fees as that was the customers fault and in the banks terms fully disclosed, hence is not a "bad faith" issue.

Many banks were/are doing this..I believe 25% was determined. Most of the big banks are in the lawsuit as well. They decided instead of having many cases scattered all over that they have consolidated all the suits to one federal Court in Miami.

Has far as the cause of your overdraft, was it a Debit Card? If so you should opt out of OD protection so if you make a mistake or there is a fraud the card will be declined if the account can not cover it and you avoid the fees.

If the NSF was due to an electronic payment or Check, there will always be a fee whether the bank covers it or not. This still does not make it right the way they sequence transactions to multiply fees.

What you should do is change to a bank or credit union that does not re-sequence this way, make sure not to sign up for and overdraft protection with the Debit card, and keep a register or ledger so you don't bounce checks or electronic payments. You don't want to depend on any bank online statements or calling as they manipulated those to encourage overdrafting..it is a major profit center for them which is why they spend millions in advertising trying to get customers to sign up for overdraft protection. Only use the online statements to see if any holds were placed you are unaware of, any fraudulent use, and to make sure checks cleared.