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CLASS ACTION FILED AGAINST BANK FOR OVERDRAFT FEES

A class-action lawsuit filed this week against UMB Bank in Missouri claims that the bank unfairly manipulated account transactions in order to increase their overdraft fees. The lawsuit, among other things, alleges that the bank reorganized purchases from most expensive to least expensive as well as charged overdraft fees when a customer had not overdrawn his or her account. The lawsuit also claims that the practices violated Missouri’s consumer protection law as well as UMB’s contracts with its customers.

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