Settlement Structure: Claims Made
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
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:
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, 2017Proof 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: $975,000Class Representative Proposed Incentive Fee:
Golomb & Honik
Webb Klase & Lemond LLC
Case Name: Collier v. National Penn Bank et al.
National Penn Settlement Administrator
c/o Epiq Systems
P.O. Box 4068
Portland, OR 97208-4068