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Wells Fargo-First Data JV faces lawsuit over excessive fees

Wells Fargo Merchant Services LLC is facing a lawsuit for allegedly charging customers unauthorized and excessive fees for its services.

The class action complaint, which was filed with the U.S. District Court Eastern District of New York on Aug. 4, claimed that the company buried "absurd provisions" in its 63-page program guide that would "allow it to charge whatever it wants without fear of legal action."

The plaintiffs are seeking, among other things, restitution of all improper fees paid, as well as awarding of damages in an amount to be determined by a jury.

Wells Fargo Merchant Services is a joint venture between Wells Fargo & Co. unit Wells Fargo Bank NA and payment processor First Data Corp. unit First Data Merchant Services Corp.