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BECU Overdraft and Nonsufficient Funds Fees Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

The Boeing Employees’ Credit Union (BECU) is putting up $6 million to settle a class action alleging that it violated the Washington Consumer Protection Act and Washington common law by imposing overdraft and nonsufficient funds (NSF) fees on consumers in certain situations. The complaint alleged that BECU charged the fees when accounts showed insufficient funds based on accounts’ available balances but when the accounts had enough to pay transactions based on ledger balances. (Available balances include transactions that have been approved but not settled; ledger balances show only settled transactions, where the money has actually been removed from or added to the account.)

Also, the complaint alleged that BECU should not have charged a second or third NSF fee on items that had been declined once and were presented and declined a second or third time.

Docket Number:

19-2-20417-6-KNT

Company: Boeing Employees Credit Union

Filing Deadline: January 1, 2100

Class Period: August 2, 2013 to July 1, 2021

Objection Deadline: August 9, 2021

Exclusion Deadline: August 9, 2021

Final Approval Hearing: September 24, 2021

Proof of Purchase:

You do not have to provide proof or submit a claim form.

Eligibility:

You may be eligible if you lived in Washington, were a member of BECU, and (1) at any time between August 2, 2015 and July 1, 2020, you incurred an overdraft or NSF fee for a transaction when the ledger balance in your account was sufficient to pay the transaction, or (2) at any time between August 2, 2013 and July 1, 2020, you were charged an NSF fee for a transaction that was presented a second or third time for payment, after it had previously been presented and declined and you had previously been charged an NSF fee.

Typical Settlement Amount:

Class members will receive a proportional share of the allegedly wrongful overdraft and NSF fees BECU charged. Most will receive between $7 and $106, depending on the amounts of their charges. Those who have already had these fees refunded or whose fees were not collected will receive $5.

Total Settlement Amount: $6,000,000

Class Representative Proposed Incentive Fee:

$7,500

Law Firms:
Berger & Montague
Smith & Dietrich Law Offices, PLLC
Terrell Marshall Daudt & Willie PLLC

Case Name: Marical v. Boeing Employees’ Credit Union

Settlement Website: BECU Overdraft and Nonsufficient Funds Fees Settlement Website

Claims Administrator:
JND Legal Administration

Claims Administrator Contact Information:

MailMarical v. BECU Settlement
c/o JND Legal Administration
PO Box 91407
Seattle, WA 98111
1-833-961-3961
info@nsfsettlement.com

Tags: Insufficient or Non-Sufficient Funds Fees, Overdraft Fees, Your Bank