Summary:
In August 2010, Wells Fargo was fined by US District Court judge William Alsup for overdraft practices designed to “gouge” consumers and “profiteer” at their expense, and for misleading consumers about how the bank processed transactions and assessed overdraft fees.
In May 2013, Wells Fargo paid US$203 million to settle class-action litigation accusing the bank of imposing excessive overdraft fees on checking-account customers.