California Supreme Court Rules Bank Can Impose Overdraft Fees On Public Benefits
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Summary
A bank did not violate state law when it charged overdraft fees on accounts used for the direct deposit of public benefit payments such as Social Security, the California Supreme Court has ruled in vacating a class award of $284 million plus statutory damages.
Bank of America recouped overdrawn amounts and charged insufficient fund fees against a checking account used by the plaintiff for the direct deposit of his monthly Supplemental Security Income payments into his Bank of America account.See the full content of this document
Extract
California Supreme Court Rules Bank Can Impose Overdraft Fees On Public Benefits
The plaintiff filed a class acti...
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