Wells Fargo Didn’t Waive All Arbitration in Overdraft Class Suit

Wells Fargo didn’t waive its arbitration rights against all members of a class action alleging the bank unlawfully charged customers overdraft fees, a federal appeals court found.

Wells Fargo Bank NA can still move to compel arbitration against unnamed class members, even though it declined to arbitrate the named members’ claims, according to a U.S. Court of Appeals for the Eleventh Circuit opinion. The Eleventh Circuit on May 10 vacated and sent back a lower court decision that said the bank waived its arbitration rights.

The bank is one of several involved in litigation over overdraft fees going back ...