The ramifications of a federal court's order for Wells Fargo & Co. to repay $203 million in overdraft fees extend far beyond the price tag one company has to pay for its California operations.
The ruling bolsters similar class actions around the country involving the alleged manipulation of the order of customers' payments — including a consolidated 32-case action in pending in Miami. Though Gutierrez v. Wells Fargo was decided under California consumer protection laws, plaintiff and industry attorneys say most jurisdictions have similar statutes.
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