Umpqua Bank here has become the latest to be named in a lawsuit that alleges it manipulated the way in which it processed debit card transactions to increase its overdraft fees.
The class-action suit was filed in the San Francisco/Oakland Division of the Northern District Court of California and accuses the Portland, Ore.-based bank of intentionally processing debit transactions from highest to lowest to force customers into negative balances more quickly, and thus increase overdraft charges and revenue.
Numerous other class action suits have also been filed against other banks, with Bank of America Corp., Union Bank of California and other banks settling those claims out of court (
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