News
Wells in legal hot seat over ATM deposits
July 26, 2009
Courthouse News Service reports that California-based Wells Fargo's policy to keep extra money deposited at ATMs takes advantage of users.
In its July 27 article, Courthouse News references a class-action suit that has been filed with the Superior Court, claiming that "Wells Fargo takes advantage of customers who make math errors on ATM deposits by keeping the extra money even after it discovers the mistake":
 | Lead plaintiff Brandi McLay says that when customers make a deposit by ATM and mistakenly enter an amount lower than the amount of the check, Wells Fargo pockets the difference. She claims Wells Fargo does not inform customers of their errors, but keeps the money under what it calls an 'Excess Funds Retention Policy' — which its customers do not know exists. |  |
Plaintiffs in the suit say they only learned about the excess funds policy after an investigation into the ATM-deposit differences.
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