SAN FRANCISCO Playing the Grinch one day late, the U.S. Court of Appeals for the Ninth Circuit on Wednesday wiped out a $203 million restitution order for bank customers who’d been socked with big overdraft charges. But like the Whos in Whoville, the bank customers may eventually see a big chunk or even all of their $203 million returned to them.
The Ninth Circuit ruled that U.S. District Judge William Alsup erred when he enjoined Wells Fargo Bank from manipulating its processing of check and debit card overdrafts to maximize customer fees.
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