SAN FRANCISCO -- In a decision that could cost Wells Fargo & Co. $15 million and restrict credit card fees in California, a state appeals court has ruled that Wells must refund some of its charges to customers who paid bills late or went beyond credit limits.

The finding by the First District Appeals Court in San Francisco upholds a lower court judgment in a 1986 suit brought by Alice M. Beasley, a Wells credit card customer who filed a class-action complaint against the fees.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.