Another overdraft fee class action lawsuit is upon us. These type of lawsuits are almost as common as securities fraud lawsuit nowadays. This time Umpqua Bank is at the center of a Overdraft Fee Class Action Lawsuit. The lawsuit claims that Umpqua Bank re-ordered debit card transactions from highest dollar amount to lowest dollar amount in order to maximize customers overdraft fees. This is a common complaint in these types of lawsuits. The goal of this reordering is to deplete the customer’s available funds as quickly as possible in order to obtain a high amount of overdraft fees. Other Banks that have been hit with an Overdraft Fee class action lawsuit include Bank Of America, JPMorgan Chase, Citigroup, and Union Bank.
The Umpqua Bank lawsuit includes customers in Oregon, California, Washington, and Nevada. The lawsuit is in the jurisdiction of the San Francisco/Oakland Division of the Northern District of California. The Umpqua Bank overdraft fee class action lawsuit also alleges that Umpqua failed to disclose or properly disclose its overdraft policies, including by providing bank statements which did not indicate the order in which transactions were actually posted to accounts.
A Washington-D.C.-based law firm Tycko & Zavareei will represent the plaintiff. A copy of the Umpqua class action lawsuit complaint is available upon request from Tycko & Zavareei at www.tzlegal.com.