Fifth Third Settles Suit Over Debit Cards for $9.5 Million
December 15, 2010
It appears that with the new laws that have gone into effect regarding the way banks and credit card companies have bamboozled their customers, things are little by little falling into place and the abuses of the past are being remedied either legislatively or juridically.
A lawsuit filed in the U.S. District Court in Northern Illinois claims Fifth Third improperly assessed overdraft fees for insufficient funds on debit card purchases and ATM withdrawals by “re-sequencing” transactions to maximize the number of overdraft fees. The bank has denied the lawsuits claims.