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Law.com - Lawsuits Accusing Banks of Illegal Overdraft Fees Start to Add Up
In the Fifth Third suit, customers allege that the bank charges unjustified overdraft fees in violation of state and federal laws. Specifically, the suit accuses Fifth Third of manipulating debit postings to maximize overdraft fees, even when the customer has enough funds to cover some of the withdrawals or purchases. The suit also challenges the bank's practice of charging overdraft fees every day an account is overdrawn, even if it's overdrawn solely because of the overdraft fees.
In the Fifth Third suit, customers allege that the bank charges unjustified overdraft fees in violation of state and federal laws. Specifically, the suit accuses Fifth Third of manipulating debit postings to maximize overdraft fees, even when the customer has enough funds to cover some of the withdrawals or purchases. The suit also challenges the bank's practice of charging overdraft fees every day an account is overdrawn, even if it's overdrawn solely because of the overdraft fees.
