Settlement Structure: Claims Made
Active: Open
Case Summary:Banco Popular de Puerto Rico is paying $5.5 million to settle two class actions claiming it breached its account agreements in charging certain overdraft and insufficient funds fees for retried automated clearinghouse (ACH) payments and checks.
Docket Number:3:20-cv-01057 and 3:22-cv-01107
Company: Banco Popular de Puerto Rico
Filing Deadline: January 1, 2100
Class Period: February 1, 2016 to April 1, 2022
Objection Deadline: February 12, 2023
Exclusion Deadline: February 12, 2023
Final Approval Hearing: March 14, 2023
Proof of Purchase:You do not have to provide proof.
Eligibility:You may be eligible if you received a notice of this settlement.
Typical Settlement Amount:Share of the net settlement fund, distributed according to the formulas in the Settlement Agreement. Current customers will receive their shares as a credit to their accounts; former customers will receive check from the Settlement Administrator.
Total Settlement Amount: $5,500,000
Class Representative Proposed Incentive Fee:$10,000
Law Firms:
Indiano & Williams, PSC
Kaliel Gold PLLC
Shamis & Gentile PA
Case Name: Soto v. Banco Popular de Puerto Rico and Orama Caraballo et al. v. Banco Popular de Puerto Rico
Settlement Website: PR Bank Fee Class Action Settlement Website
Claims Administrator:
Kroll Settlement Administration, LLC
Kroll Settlement Administration LLC
c/o Kroll Settlement Administration, LLC
PO Box 225391
New York, NY 10150-5391
833-709-0653