Capital One Attempts to Mediate Consumer Fraud Lawsuit

Fri, Mar 16, 2012 15:32 CET

Capital One Bank is attempting to use mediation to resolve a consumer fraud lawsuit claiming they practiced unfair overdraft fee polices.

According to Bloomberg, the customers who filed the lawsuit claimed that the bank rearranged debit card transactions from highest to lowest so that they could maximize the number overdraft fees they charge once a user’s account dips below $0.00.

There are at least 30 banks that have consumer fraud lawsuits with similar claims in Miami as well as throughout the U.S.

Some of the banks that have settled their litigation associated with overdraft fees include JP Morgan Chase & Co., Bank of America and Union Bank NA.

If you or a loved one has been charged excessive overdraft fees, contact Sokolove Law for a free legal consultation and to find out if you have grounds to pursue legal action.

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consumer fraud lawsuit Overdraft Fees jp morgan chase co