Umpqua hit with overdraft lawsuit

| Print |  Email
Must Reads
Thursday, January 05, 2012

 

Portland-based Umpqua Bank is the latest to be hit with a class-action lawsuit for the way it charges overdraft fees.

 

The lawsuit, filed by California resident Amber Hawthorne, seeks to recover at least $5 million in damages and fees for Umpqua customers who got hit with an overdraft fee after the bank re-sequenced their debit-card transactions from highest to lowest. 
The lawsuit alleges the bank decided when, whether and how to post debit transactions. It also regrouped transactions that occurred on separate days before re-ordering them from highest to lowest, according to the complaint. 
That resulted in more overdraft fees than if the transactions had been posted in the order in which they were made, Hawthorne's suit says. Account statements given customers, however, presented transactions from lowest to highest, the lawsuit states.

 

Read more at OregonLive.com.

{biztweet}umpqua lawsuit{/biztweet}

 

 

 

More Articles

The Backstory: Portland Youth Builders

The Latest
Wednesday, June 03, 2015
blog002 1BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

As part of our green workplaces story, Oregon Business checked out a community service project undertaken by Portland Youth Builders, a nonprofit alternative high school. In partnership with Whole Foods, PYB built garden boxes for a Home Forward  housing site. Home Forward is a government agency that provides housing for low income residents and people with disabilities.


Read more...

Downtime with Debra Ringold

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Dean of the Atkinson Graduate School of Management, Willamette University


Read more...

Urban renewer

Linda Baker
Wednesday, June 24, 2015
UnknownBY LINDA BAKER   

One year after he was appointed chair of the Portland Development Commission, Tom Kelly talks about PDC's longevity, Neil Kelly's comeback and his new role as Portlandia's landlord.


Read more...

Wildcards

Guest Blog
Tuesday, July 28, 2015
China A SharesBY JASON NORRIS, CFA | OB GUEST BLOGGER

Uncertainty in Greece and China, along with potential interest rate hikes mean investors are looking at the market and nervously questioning where they should be invested.


Read more...

Fueling Up for the Climb

July/August 2015
Friday, July 10, 2015
BY GREGG MORRIS

Rita Hansen aims to scale natural gas vehicle innovation.


Read more...

5 things to know about veterans in the workforce

The Latest
Wednesday, July 01, 2015
070215-vetsthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are more than 10 million former military members working in the United States.


Read more...

Brain Storm

July/August 2015
Monday, July 13, 2015
BY CAMILLE GRIGSBY-ROCCA

Can the brave new world of neurotechnology help an OHSU surgeon find a cure for obesity?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS