My colleague Chris Serres reported this week on one of the hottest of the hot buttons that Whistleblower hears about: bank overdraft fees. A federal judge ordered Wells Fargo to pay $203 million in restitution to its California customers for its "practice of processing larger checks and debit-card payments before smaller ones, rather than in the actual order," Serres wrote. The policy maximizes overdraft fees, a revenue source that's lucrative for banks but that has enraged customers and members of Congress. Here's one excerpt of Judge William Alsup's ruling:
While Wells Fargo said it would appeal the decision, the big questions on many consumers' minds are these: will anybody other than California customers get any restitution? And what about every other bank that does this?
