I feel another lawsuit coming on. PNC Bank are the masters of this blatant robbery.
In a decision handed down late Tuesday, U.S. District Judge William Alsup accused Wells Fargo of "profiteering" by changing its policies to process checks, debit card transactions and bill payments from the highest dollar amount to the lowest, rather than in the order the transactions took place. That helped drain customer bank accounts faster and drive up overdraft fees, a policy Alsup referred to as "gouging and profiteering."
"Internal bank memos and e-mails leave no doubt that, overdraft revenue being a big profit center, the bank's dominant, indeed sole, motive was to maximize the number of overdrafts," Alsup wrote. That policy would "squeeze as much as possible" from customers with overdrafts, in particular from the 4 percent of customers who paid what he called "a whopping 40 percent of its total overdraft and returned-item revenue."
Read the entire article here. It's the stuff that dreams are made of. I've long since moved on to another bank that doesn't perpetrate this fraud, and has an online banking service that is tops in it's industry.
It's only a matter of time until PNC gets hit in the wallet for this same crime. I can't wait! The only language corporations understand is money and it's long past time they quit holding the American People for ransom.