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Umpqua Bank Faces Overdraft Fees Class Action Lawsuit

Portland, OR: Umpqua Bank is facing a consumer banking class action lawsuit, filed by California resident Amber Hawthorne, over allegations that the Portland-based bank unjustly enriches itself through the manipulation of overdraft fees.

According to the lawsuit, Umpqua Bank decided when, whether and how to post debit transactions, and that it regrouped transactions that occured on different days then re-ordered them from highest to lowest.

These actions, the lawsuit claims, produced more overdraft fees than if the transactions had been posted in the order in which they were made. Account statements given customers, however, presented transactions from lowest to highest.

In October 2010, Umpqua, part of Umpqua Holdings Corp, stopped its practice of re-ordering overdraft fees from highest to lowest now posting them from lowest to highest. And, customers are required to opt-in to overdraft protection.

The overdraft fees lawsuit seeks to recover at least $5 million in damages and fees for Umpqua customers who were charged overdraft fees after the bank re-sequenced their debit-card transactions from highest to lowest.

Umpqua Bank Overdraft Fees Class Action Legal Help

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Published on Jan-9-12


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