BB&T Wins Court Ruling Over Arbitration on Overdraft Fees
Orlando Business Journal
July 10, 2012
A new court ruling says that BB&T Corp. can enforce an arbitration requirement for customers who allege that the bank imposed excessive overdraft penalties. A U.S. Court of Appeals agreed with BB&T "that arbitration is a proper and reasonable means to resolve a dispute." An earlier lower-court decision had determined that BB&T could not enforce a mandatory arbitration clause in its customer agreements that would allow the bank to avoid a class-action lawsuit related to its overdraft fees. That lower court cited language that required the customer to pay for the arbitration costs even if the customer won a fee dispute. The appellate court said that provision could be eliminated, keeping the rest of the agreement in force.
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