Lawsuit Filed Against SunTrust Banks, Inc. Regarding Overdraft Fees

Lawsuit claims that SunTrust engages in unfair and bad faith business practices with respect to its assessment of overdraft fees on consumer checking accounts.
Atlanta, GA (PRWEB) April 10, 2009 -- Atlanta-based law firm Webb, Klase & Lemond, LLC has filed a class action lawsuit against SunTrust Banks, Inc. alleging that SunTrust engages in fraudulent, deceptive, unfair, and bad faith business practices with respect to its assessment of overdraft fees on consumer checking accounts. The suit also claims that SunTrust, which is headquartered in Atlanta, Georgia, has engaged in improper and unfair practices in order to increase the number and amount of overdraft and/or service fees imposed upon consumers' accounts. The case, styled Peterson v. SunTrust Banks, Inc. was filed in the Superior Court of Fulton County, Georgia on April 8, 2009 and has been assigned Case No. 2009CV167326.
According to the suit, Webb, Klase & Lemond's client had overdraft fees deducted from her consumer checking account even though there were sufficient funds in her account to cover the transactions in question.

In addition, the suit alleges that SunTrust routinely enforces a policy whereby charges incurred are posted to consumer accounts in order of largest to smallest amounts, even when larger charges occur days after smaller charges in an effort to maximize the number and amount of overdraft and/or service fees imposed upon consumer accounts. SunTrust's policy allows it to post items to an account in an order that is not chronologically based and is not based on any other proper rationale.

Plaintiff asserts that SunTrust could easily program its software systems to minimize insufficient funds fees without any increased costs to SunTrust.

Instead, SunTrust has programmed its systems to order charges in such a way as to maximize fee income. The Complaint alleges that at the very least, these practices violate SunTrust's obligation to act in good faith and to deal fairly with customers; at worst, they amount to fraudulent, deceptive, and unfair business practices.

Source: http://www.prweb.com/releases/2009/04/prweb2315504.htm

Insufficient/unavailable funds penalty 1
Extended overdraft fee2
$ 35.00
$ 36.00 (effective 5/1/09)
$ 35.00
$ 36.00 (effective 5/1/09)



And I thought this type of activity was limited to the UK, but it seems to be spreading, RAPIDLY!!

It's about time the Banks stop treating us as "Cash Cows" and treated us with the respect we deserve..

Get on them and stay on them, and if they don't make it right, sue them. If we don't stand up and fight back we 'are getting' walked all over. For too many years we have listened to the fallacy of reason that went like this: It will cost more to defend ourselves than to... [pay whatever the fees are etc]. Well, the costs got real high. We are letting the banks make their money in their deceptive and dishonest ways. Stand up for principal. Geez, so what if it costs--it costs them too. Google it and find the forms and file it yourself. Most judges will listen to a reasonable person with a thought out, documented issue. It is our American obligation.

HI! I was a victim of suntrust overdraft fee scams! They"STOLE" over $900 from me in the following manner. I am unemployed and receive direct deposit unemployment compensation, as well as money transfers from PAY PAL from eBay selling. Well the bank realized the dates these direct deposits would arrive.They would "HOLD" the direct deposits from both long enough to create an overdraft and begin a "snowball effect". I had proof from PAY PAL of the direct deposits being accepted by my bank as well as unemployment deposits, yet the bank would not post these until an overdraft occurred.This practice started small and each month got larger and larger. Until finally they set up the overdraft fees to snowball into an amount that took ALL my unemployment as well as EBAY earnings in fees. Well over $900! At this time in our economy when we are living hand to mouth this is "criminal" activity in my mind. When I went to the bank with proof of deposits being accepted but not posted to my account all they said was.. "it dosent show" "sorry" "we can't do anything about it" WITH A FAKE SMILE AND SMIRK.. SHE SAID IS THERE ANYTHING ELSE WE CAN HELP YOU WITH!! If it wasent for my familys help I would have starved.. they took all I had in the world, and I still haven't fully recovered financially from this. I left SUNTRUST and joined a credit union that has much fairer policies. But I will never forget what SUNTRUST did to me and the $900+ dollars I lost forever! James

What do I have to do to get in on this lawsuit against Suntrust