Appeals court lifts $203 mln award against Wells Fargo

SAN FRANCISCO Wed Dec 26, 2012 1:06pm EST

SAN FRANCISCO Dec 26 (Reuters) - A U.S. appeals court vacated an injunction and a $203 million restitution order against Wells Fargo & Co in consumer litigation over the bank's overdraft policies, according to a ruling issued on Wednesday.

The opinion came from the 9th U.S. Circuit Court of Appeals in San Francisco. The appeals court also found Wells had violated part of California's unfair competition law, and sent the case back to trial court in San Francisco to determine what relief is appropriate.

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