National Penn Bank Overdraft Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

This settlement resolves a class action alleging that National Penn Bank breached its customer account agreement when it charged overdraft fees for accounts that were overdrawn based on their available amounts rather than the ledger balances for the accounts.

Docket Number:

12061036

Company: National Penn Bancshares Inc.

Class Period: June 8, 2008 to December 31, 2011

Objection Deadline: November 7, 2017

Exclusion Deadline: November 7, 2017

Final Approval Hearing: December 8, 2017

Proof of Purchase:

No; presumably the bank’s records will be used for verification.

Eligibility:

You may be eligible if you were a National Penn Bank customer in the US with at least one deposit account who was charged an overdraft fee as a result of a debit card transaction where the bank’s records showed that the account was overdrawn based on the available balance rather than the ledger balance, between June 8, 2008 and December 31, 2011.

If you are a class member, you do not need to submit a claim for to receive a payment. However, note that not all overdrafts are covered by this settlement.

Typical Settlement Amount:

Refund of overdraft fees. Not all overdrafts are covered by the settlement, so not all overdraft fees will be refunded. Also, if National Penn closed your account with a negative balance, any award you may have received will go towards paying off the negative balance.

Total Settlement Amount: $975,000

Class Representative Proposed Incentive Fee:

$2,500

Law Firms:
Golomb & Honik
Webb Klase & Lemond LLC

Case Name: Collier v. National Penn Bank et al.

Settlement Website: National Penn Overdraft Settlement Website http://www.nationalpennoverdraftsettlement.com

Claims Administrator:
Epiq Systems

Claims Administrator Contact Information:

National Penn Settlement Administrator
c/o Epiq Systems
P.O. Box 4068
Portland, OR 97208-4068
1-888-721-6299

Tags: Overdraft Fees, Your Bank