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

Undersea Power

June 2015
Friday, May 22, 2015
BY JACOB PALMER

Mike Morrow and Mike Delos-Reyes first came up with the idea of an ocean power device 23 years ago, when they were students at Oregon State University. They realized a long-held vision last summer, when their startup, M3 Wave, successfully launched the first ocean power device that works underwater.


Read more...

6 key things to know about summer baseball in Oregon

The Latest
Friday, June 05, 2015
basedthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

As temperatures in Oregon creep into the 90s this weekend, Oregonians' thoughts are turning to — summer baseball.


Read more...

Efficiency Boost

June 2015
Friday, May 22, 2015
BY JOE CORTRIGHT

How conservation stimulates the local economy.


Read more...

Marijuana law ushers in new business age

The Latest
Tuesday, June 23, 2015
062315panelthumbBY KIM MOORE | RESEARCH EDITOR

Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.


Read more...

Nine lives

Linda Baker
Friday, May 22, 2015
0f4f7bfBY LINDA BAKER | EDITOR

Roy Kaufmann always lands on his feet.


Read more...

Downtime with John Helmick

June 2015
Tuesday, May 26, 2015
BY JACOB PALMER

Live, Work, Play: CEO of Gorilla Capital.


Read more...

Stemming the tide of money in politics

Linda Baker
Wednesday, June 10, 2015
 jeff-lang-2012-thumbBY LINDA BAKER

Jeff Lang and his wife Rae used to dole out campaign checks like candy.  “We were like alcoholics,” Lang says. ”We couldn’t just give a little.”


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