The Week In Banks That Got Busted

Via Bob Cesca, every now and then the corporate assholes who prey on us get busted.

Wells Fargo & Co. should pay about $203 million to customers who say the bank manipulated debit-card transactions without their knowledge to increase revenue from overdraft fees, a federal judge ruled....Wells Fargo changed the way it treated customers' daily debit transactions and cash withdrawals in December 2001, according to the lawsuit filed in 2007. Transactions with the highest dollar amount posted first, rather than in the order they occurred.

K-Drum figures this is leftover Wachovia stuff. Makes sense, actually.  Oh, and that's illegal, by the way.

So how many other banks are still doing this right now?  And sure, we don't need regulation or oversight, banks are inherently good because you can trust them to be honest, right?

I got five bucks says Megan McArdle pens a column on how unfair this is to Wells Fargo because this would never happen if stupid poor people living direct deposit to direct deposit would stop overdrawing their accounts.