"In the past few years, banks have been hit with a series of multidistrict class actions regarding their overdraft policies. In particular, plaintiffs lawyers have targeted banks utilizing a methodology for processing payments from most expensive to least, known as “high-to-low,” instead of utilizing a methodology that processes payments in chronological order or by category. In practice, this generally leads to more frequent overdraft fees. Indeed, following the financial recession, many banks changed their policy from “low-to-high” to “high-to-low” recognizing a higher revenue potential. The Consumer Financial Protection Bureau estimates that in 2012 banks made an estimated $32 billion in overdraft fees, up from just $400 million the previous year."
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