Fifth Third Bank Sued Over Overdraft Fees

A group of Fifth Third Bank customers has filed a lawsuit against Fifth Third Bank, seeking refunds of millions of dollars in overdraft charges the plaintiffs contend were taken illegally.The suit maintains that the overdraft fees were often charged when the customers had enough funds in their accounts to pay for purchases.

“It is one thing to charge an overdraft fee when someone has actually overdrawn their account. It is entirely another to charge an overdraft fee when the customer’s account has sufficient funds, said Hassan Zavareei, a partner at the Washington, D.C.-based law firm Tycko & Zavareei LLP, which represents the plaintiffs.

The suit charges that in some cases Fifth Third charges overdraft fees and additional fees for every day an account is overdrawn — even when an account is overdrawn solely because of bank fees charged by Fifth Third.

“The bank is essentially charging overdraft fees on overdraft fees,” said Zavareei. “This is outrageous bank conduct, made worse by the fact that most of the bank’s victims are struggling to make ends meet.”

Read more: http://www.consumeraffairs.com/news04/2010/02/fifth_third_overdraft.html#ixzz0l6sSCTuX

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