Wells Fargo Wins Lawsuit Involving ‘Unfair’ Overdraft Fees

Wells Fargo & Company (NYSE:WFC) has had an order compelling it to pay customers $230 million in restitution vacated today by a California Judge. The company had been liable for the return of overdraft fees it charged customers, based on what one court found to be unfair businesses practices.

The source of the fees was the way in which Wells Fargo & Company (NYSE:WFC) charged debit card purchases to its customers accounts. Starting in 2001, the bank began charging purchases with debit cards to customer accounts starting with the largest. The practice ensured that its customers...