Consumer Scams

Excessive Bank Overdraft Fees

Numerous banks, including banking giants Bank of America and Chase Bank, have been sued over manipulative practices that promote overdraft fees for consumers. Typically, banks were accused of re-ordering debits to maximize fees and, ultimately, profits.

While many of the banks involved are still tied up in litigation over the issue, Bank of America has settled and been forced to change its overdraft fee policies. Several other banking institutions have followed suit.

Baron & Budd shareholder Bruce Steckler serves on the Plaintiffs’ Executive Committee in the bank overdraft fee litigation and was part of the team that helped negotiate the Bank of America settlement.

Online Scams

In 2010, Baron & Budd filed a class action lawsuit on behalf of victims of online fraud. The judge recently denied the defendants’ motion to dismiss. Shareholder Bruce Steckler serves on the Plaintiffs’ Steering Committee in the ProFlowers/EasySaver Rewards MDL.