Ruling against Wells Fargo makes me happy!

Let's just say that there were a few college years (upon leaving the safety net of my parents) where I learned priceless lessons in personal financial management. Enrolling in the practical course of "managing your bank account," my primers were primarily near-poverty and sour banking practices (read here).

I don't feel sorry for myself, since much of America has (at one time or another) experienced such conditions -- or continues to -- and may not be fortunate enough to learn have learned the lessons offered by these hardships. Many lack the ability or can't find direct opportunity to find an exit door from them.

My #1 Lesson learned: if one is living from a debit card, is absolutely critical to never let your bank account balance fall below $100.
My #2 Lesson learned: Bank with a credit union, or some other institution with truly transparent and fair banking practices and fee system.

Admittedly, ever finding $100 extra in any month seemed impossible at the time. I tried, for example, to do it in $10 increments each month, and I nearly made it. Unfortunately, the bank made it literally impossible to ever get ahead, as the article's quote explains:

In a decision handed down late Tuesday, U.S. District Judge William Alsup accused Wells Fargo of "profiteering" by changing its policies to process checks, debit card transactions and bill payments from the highest dollar amount to the lowest, rather than in the order the transactions took place. That helped drain customer bank accounts faster and drive up overdraft fees, a policy Alsup referred to as "gouging and profiteering."

Even though I tried to reset my brain into equating $99 as overdrafting (aka -$1 balance), the unfair Wells Fargo practices still rocked my world. And those $26.06 bean burritos ($1.06 burrito + $25 overdraft fee) wouldn't have had such a bitter aftertaste (as the draft went down). Impeccable financial planning has no strength against unfair/scammy bank practices in their armor. Unfortunately, the situation so entangled me during this period that I never could get it together to leave this bank (always pining, "But I've been with them for 10 years!").

My secondary accounts still exist, but that is because a-my financial situation has bettered with the exit of this college phase, and b-the scammy practices they employed have been changed.

I have had every statement, organized by month, with overdraft charges highlighted, going back 7 years, and I have had them waiting for this day for over 4 years.

I look forward to hearing from you on this issue, Wells Fargo, even if it will only be my children who see the benefits from this legal decision.