Wells Fargo Gets to Arbitrate Overdraft Suits, 11th Circuit Says

Wells Fargo Bank NA defeated a bid by plaintiffs in five separate would-be class actions to reverse a lower court ruling compelling individual arbitration of their claims alleging its overdraft practices violate the covenant of good faith and fair dealing, according to a Wednesday ruling by the Eleventh Circuit.

The plaintiffs’ respective account agreements were with either Wells Fargo or its predecessor, Wachovia Bank NA. Both agreements contain arbitration clauses requiring individual, nonclass arbitration of account-related disputes, the U.S. Court of Appeals for the Eleventh Circuit said in the unpublished ruling.

The appeal challenged the district court’s conclusion that the ...