California Attorney General Jerry Brown should look into this. According to The Associated Press via The Huffington Post , Wells Fargo was ordered to pay $205 million to its customers as part of a successful class-action lawsuit. What Wells Fargo was doing was allowing debit purchases to go through when a customer's account was overdrawn. But Bank of America has the same practice, and this blogger experienced it after a client bounced a check. What Bank of America does is pile on one payment when you're overdrawn, thus triggering another overdraft charge and making more money from it. Then, when the non-paid vendor tries to collect again, the Bank of America issues a second overdraft charge ! My sources in and out of Bank of America have confirmed this problem. In other words, Bank of America has practiced the same process Wells Fargo was accused of and is now ordered to pay its customers back to settle. U.S. District Judge William Alsup accused Wells Fargo of pro
Oakland Focus News Blog | Oakland News Online Blog - Oakland CAs first true blog, est 2004