Fifth Third Sued for Overdraft Fees

A class action lawsuit filed in the Northern District of Georgia asserts that Fifth Third Bancorp has manipulated the transactions for its customers in order to provoke overdraft fees.  The suit, Willard v. Fifth Third Financial Group, is being pursued by Tycko & Zavareei.

A lawsuit asserts that Fifth Third manipulates accounts to trigger excessive overdraft fees.

Just a refresher, but it is worth mentioning that Fifth Third has a fairly checkered record. It has been the subject of several successful lawsuits and government convictions. John Ashcroft, hardly a progressive, argued and won a fair lending violation against a subsidiary (Old Kent Financial) of Fifth Third in 2004. That suit, United States of America vs. Old Kent Financial and Old Kent Bank, asserted that Old Kent violated the Equal Credit Opportunity Act and the Fair Housing Act.  Although it would be fair to (more…)