Market Overview

Unfair Overdraft Claims From Sovereign Bank Customers Under Investigation


(EMAILWIRE.COM, October 26, 2012 )
New York, NY Class is working with attorneys investigating whether customers of Sovereign Bank in Pennsylvania where charged unfair overdraft fees when they overdrew their accounts. Many of the nations largest banks have allegedly instituted unfair and deceptive overdraft protection policies. Some believe that customers of state and regional banks may have also been subjected to similar practices. It is believed that certain banks may be reordering customers transactions to maximize the number of overdraft fees they can charge when a debit is made against an account with insufficient funds. If you suspect you have been unfairly charged under your banks overdraft protection plan, you may be able to file a claim to seek compensation for these charges. To find out if you are eligible, visit for a free evaluation of your unfair overdraft claim.

While Sovereign Bank has not been named among the establishments allegedly charging unfair overdraft fees, customers of this bank may have grievances similar to those outlined in lawsuits filed against Bank of America, Wells Fargo and other large banking institutions. In unfair overdraft suits against these establishments, it has been alleged that the banks are reordering transactions in their customers accounts so they can charge more overdraft fees and, as a result, generate more profits. Essentially, the suits claim that when a customer makes a number of debits on any given day, the bank will process the largest debit first regardless of the order in which the transactions were made. For instance, if a customer with a $100 balance makes four $25 purchases in the morning, followed by a $50 purchase that night, the bank will process the $50 transaction first and charge overdraft fees for two of the $25 purchases made hours before, according to the allegations.

Sovereign Bank has not been named in the lawsuits making these allegations; however, if you believe you were wrongfully charged overdraft fees by Sovereign Bank or any other financial institution, visit for more information and a free case evaluation.

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Hannah Armstrong


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