Allegations Surface that National Bank of Arizona Charged Unfair Overdrafts
Allegations have surfaced that National Bank of Arizona unfairly charged its customers overdraft fees after rearranging their transactions. The attorneys working with ClassAction.org, a site dedicated to protecting consumers, have launched an investigation into the bank’s overdraft protection policies. Consumers who were unfairly charged overdraft fees may have legal claims to recover compensation for these charges, according to the attorneys. If you were charged overdraft fees by National Bank of Arizona after your transactions were processed out of the order in which they were made, visit http://www.classaction.org/unfair-overdraft-protection-fees.html today. On the site, consumers can report their complaints against the bank, and receive a free consultation to determine whether they may be owed compensation for these charges.
National Bank of Arizona has not been the only bank which has faced allegations of deceptive and unfair overdraft practices. At least 14 banks have reached multi-million dollar settlements in lawsuits alleging improper posting practices that increased the amount of overdraft charges assessed to customers’ accounts, and in turn, the banks’ profits. It was alleged that banks were processing their customers’ transactions, by debit or check, in a highest-to-lowest sequence, regardless of the order in which they were made. For instance, assume a customer had $200 in their checking account and made five $20 purchases during the day, followed by a $160 purchase at night. If the bank processed the debits in the order in which they were made, the customer would only be charged a single overdraft fee for the $160 purchase; however, if the debits were processed in a highest-to-lowest sequence, a practice alleged in the suits, the customer would incur three overdraft charges.
While many major banks have resolved these lawsuits, the attorneys working with ClassAction.org have started an investigation to determine if customers of smaller banks have been subjected to similar practices. Customers of National Bank of Arizona and other local banks are invited to visit ClassAction.org today to learn more about this alleged transaction reordering practice and to receive a free evaluation of their complaints.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.