This past summer, three lawsuits were brought by current and/or former employees against the University of Phoenix. These employees worked as academic and enrollment counselors and allege that they were not paid overtime compensation for hours worked over forty hours in a week. Specifically, these employees allege that in order to meet quotas and requirements set by their supervisors, the counselors were forced to work more than forty hours. However, despite their supervisors' encouragement to meet these quotas and knowledge of the overtime hours being worked, these employees were not paid any overtime compensation for the time worked. The employees maintain that these practices violate the federal Fair Labor Standards Act ("FLSA"), and therefore, they seek to represent a nationwide class of all enrollment and/or academic counselors working for the University of Phoenix.
In October 2009, shortly after TD Banknorth changed its name to TD Bank - "America’s Most Convenient Bank" - there were apparently some major IT glitches that resulted in many customers having difficulties with their direct deposits and viewing real-time account balances. As a result, many customers, including myself, were charged overdraft fees through no fault of their own. It was at this time, while viewing numerous overdraft fees on my statement, that I became aware of a little known banking trick. When there are several current debits to an account, many banks, not just TD Bank, apply the debits in reverse order of their value and not the chronological order that they were posted to the account. Therefore, no matter the order received, the largest current debit is applied to the balance FIRST, then the second largest debit, third largest debit and so forth. This is important because, if for some reason that largest debit makes you go over your balance, you are then charged overdraft fees for every other debit – even if the remainder of the debits would have been covered by your initial balance. (read this customer's complaint.)