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Wells Fargo faces larger suit on overdraft fees

San Francisco Chronicle, by Robert Selna Posted By: gg- Thu, 12 Aug 2010 17:12:55 GMT A San Francisco judge's scathing ruling ordering Wells Fargo to pay its customers $203 million for manipulating debit transactions to maximize overdraft fees might be just the start of troubles for the bank. U.S. District Judge William Alsup's 90'page opinion Tuesday described Wells Fargo's motive as profiteering and said the San Francisco'based bank's goal was to "maximize the number of overdrafts and squeeze as much as possible" out of customers. But the hefty tab represents only what Wells owes its California customers.(snip)Wells' clients in other states have accused the bank of the same unfair practices.

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