Oakland, CA -- (SBWIRE) -- 02/24/2014 -- Guy Seaton, spokesperson for Oakland Medical Market medical equipment and supply retail store, 433 Hegenberger Rd, Suite C, Oakland, California, announced today that Medical Market a civil suit against Wells Fargo Bank for $5000 for unfair and deceptive business practices in Superior Court of California, County of Alameda, and Case number HS 14711994 is set for trial 04/11/2014 at 9:00 am in Department 702, 5672 Stoneridge Dr, Pleasanton, California.
Medical Market allegations are that Wells Fargo engages in unfair and deceptive business practices by manipulating the order of posting payment and withdrawal transactions and not posting deposits made during the day, which are known to Wells Fargo. Wells Fargo transaction posting took unfair advantage of Oakland Medical Market by cooking the transaction posting records to charge a $35.00 fee per transactions. Wells Fargo post transactions from the highest to the smallest and do not post deposits made during the day, which are known to the bank, as pending transaction. Posting transactions contemporaneously instead of posting highest dollar transactions to the smallest and recording deposits as pending transactions, no fees would be charged.
The order of transactions are in direct contrast to Wells Fargo pride and policy as stated in a letter received from Wells Fargo on behalf of Ms. Carrie Tolstedt, Senior Executive Vice President for Community Banking, from D Green, Senior Correspondence Specialist, “At Wells Fargo, we pride ourselves on developing and maintaining quality financial relationships and strive to consistently deliver the exemplary service we know or customers deserve, so it was very difficult to learn that we have not met your expectations. We (Wells Fargo) sincerely apologize for the different issues you have encountered as a result of Overdraft Fees assessed to your business account.”
Oakland Medical Market maintains that Wells Fargo posting order and not posting deposits when known by the bank is nothing more than a shell game. The picking and choosing when transactions are posted and delaying posting of deposits are unfair and deceptive business practices for sole purpose of collecting fees with contemporaneous posting none would exist.
Seaton said the lawsuit was necessary because Wells Fargo has continuously refused a meeting to discuss the posting order for transactions with Ms Tolstedt who is responsible for retail, small business and business banking at Wells Fargo.
OAKLAND MEDICAL MARKET
433 HEGENBERGER RD, SUTIE C
Oakland, California, 94621
Contact: Guy Seaton 510 4170549
grseaton@att.net