June 6, 2022
Can a transaction overdraw an account if funds have previously been set aside to pay it? The complaint for this class action alleges that Pelican State Credit Union sets aside funds for debit transactions but then, in certain situations, when the transaction comes up for settlement, it charges the accountholder an overdraft (OD) fee to pay it. The complaint alleges that these “Authorize Positive, Purportedly Settle Negative” (APPSN) transactions violate the terms of the bank’s agreements with the accountholder.
Case Event File: Pelican State CU OD Fees on Accounts Not Overdrawn ComplaintRelated to: Pelican State CU OD Fees on Non-Overdraft Transactions Class Action