”The Bank of America overdraft fee class action lawsuit claimed BofA processed its debit card transactions in the order of highest to lowest dollar amount so it could maximize the overdraft fees customers paid. It also charged the bank with waiting to process charges until days after a purchase was made, when users’ accounts were depleted.”
Unlike my proposed scam, sounds to me like the customers were guilty of overdrafting. Then the banks took advantage of the overdraft.
The banks didn’t illegally create the overdraft.
Ianal but it sounds like the judgment is based on an assumption the bank had some fiduciary responsibility to the customers.
The overdrafts were going to happen. The banks would maximize the number of OD items though. Pay the big check first and then OD the next several items. That’s how it works.