B B & T BANK RIP OFFS,FRAUDS,CROOKS, Stafford Virginia

Here is the article. He better not be a lawyer because he looks like an a*s already.
Again, NO ONE can MAKE you overdraft. It is impossible.
What will be the next branch of hope to cling on to when this one gets laughed out of court?

College Student Suing BB&T Over Fees
12/19/08 7:49 pm | reporter: Sarah Bloom producer: Scott Wilson

Chatham, VA - He's no lawyer. Anthony Sain's not even in law school yet. But he's a rising junior at Averett (web) University and is headed to court, taking on a national bank.

Anthony says BB&T is manipulating his charges and deposits, which is unjustly forcing him to pay overdraft fees. And now, he wants to hold them accountable for what he says is unfair and just plain wrong.

Anthony Sain, Suing BB&T Bank - "I felt gouged, like I was being taken advantage of!"

Overdraft fees: It starts out as a small punch...35 dollars for taking more money then you have in your account. But double that, or triple it...it adds up.

Bad news for consumers, good news for banks. And according to one Chatham man, it's worse than you think.

Sain - "Banks are intentionally manipulating these debits and credits to maximize the amount of overdrafts consumers make. Which is a very lucrative business for banks to do that."

Debits, credits...it can get confusing fast...

Let's say you have $10 in my account. And you just deposited one hundred more. Then you buy, say, $15 worth of gas, and then grab lunch, say maybe $5. Chronologically, you should have enough money to cover your expenses for the day.

But that's not how Sain says the bank sees things.

A bank representative told him, the bank "resequences" the charges. So the expenses are entered first, minus 15 dollars for gas, and then minus 5 more for lunch, before adding the $100 deposit. If that's the case, you would face two 35 dollar overdraft charges.

Sain - "They target low income consumers. Wealthy people obviously will not have overdraft."

It's why he's filed a lawsuit against his bank, BB&T.

Sain - "I think I've got very good grounds to bring this action against them."

He says banks shouldn't be allowed to manipulate debits and credits. It won't be an easy ride.

Sain - "I'm going to go represent myself. Like I said, there are a lot of obstacles against me right now, and if I lose here at the district level, I will appeal to Richmond."

We spoke with a representative from BB&T. She says she can not speak to the lawsuit.

But when it comes to resequencing, she says, the bank's policy is to enter credits, or deposits first. Then she says the charges are subtracted from the account depending on how they come in.

She says regardless of how the charges are represented in the account, the bank's policy is made clear to new clients and it is the client's responsibility to maintain a positive balance.

It looks like this is a matter that might just have to be settled in court.

On March 10, 2009 an Amended Class Action Complaint was filed in Sain v. BB&T. The action alleges BB&T resequences debits and credits to intentionally create artificial overdrafts. The Court in Casey and Eliazabeth White v. Wachovia in 2008 held; "on Wachovia's motion to dismiss under Fed.R.Civ.P. 12(b)(6); The court cannot find as a matter of law that the Deposit Agreement's statement that Wachovia may post items in any order expressly gives Wachovia the right to manipulate transactions, delay posting indefinitely, and maximize overdraft fees in the ways the Complaint alleges. See Hunting Aircraft, 281 Ga. App. at 452, 636 S.E.2d at 141. (Good faith' and reasonableness' do not comprehend arbitrary or capricious reasons, or considerations based on pecuniary gain, or merely personal preferences; rather, they refer to considerations of fairness and commercial reasonableness.') (citation and internal quotations omitted)". Ignore Steve he works for BB&T and defends them vigorously.

Barbara,

They have charged you hundreds of dollars in fees ONLY because you cannot properly manage your account!

The order of transactions is TOTALLY IRRELEVENT if you do not spend money that you do not have in your account!

Keep an ACCURATE checkbook register, AND stop spending when you have no more money in your account!! Such a simple concept! Although as simple as it is, it amazes me how many people cannot comprehend it.

Do you have the millions of dollars it would take to follow through with a class action lawsuit?

Do you know what you would get after spending millions of dollars on a class action lawsuit? Maybe 2 or 3 dollars after the lawyers get paid.

Call,write, fax, or email the Commissioner of Banks in your state. BB&T is allowed by law to hold and post items "at their discretion". For example, if you have $500.00 in your account and make five $10.00 withdrawals first, and then make a $485.00 withdrawal--you'll be charged four Overdraft fees of $35.00. WHY? Because they will pay the last withdrawal of $485.00 and one of the $10.00 withdrawals. Then they will charge $35.00 for remaining four $10.00 withdrawals leaving your balance at negative $175.00. They can do this because they do not have to deduct items as they are received. If it was done in order, there would be only one $35.00 Overdraft fee. Anyway, as long as they can hold and post items "at their discretion", this "Rip-Off" will continue. Help change the laws and regulations. DEMAND banks must debit and credit items as they are received and not held until they can add more fees.