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10 months ago
Judge rejects Wells Fargo's bid to arbitrate overdraft lawsuits
October 18, 2016 / 9:16 PM / 10 months ago

Judge rejects Wells Fargo's bid to arbitrate overdraft lawsuits

Wells Fargo cannot force into arbitration five class actions accusing it of collecting excessive overdraft fees from its most vulnerable customers, a federal judge in Miami has ruled.

In two orders on Monday, U.S. District Judge James King said Wells Fargo waived any right to arbitrate the cases by choosing instead to litigate for years in hopes of winning in court.

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