RBC Bank Overdraft Fee Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

A class action against RBC Bank (USA) is being settled by PNC Bank, NA, its successor-in-interest after the two banks merged. The complaint contended that RBC posted debit card transactions in the order of the highest amount to the lowest, and that this resulted in customers being charged more overdraft fees.

Docket Number:

1:09-MD-02036-JLK

Company: PNC Bank NA

Filing Deadline: January 1, 2100

Class Period: October 10, 2007 to March 1, 2012

Objection Deadline: March 18, 2020

Exclusion Deadline: March 18, 2020

Final Approval Hearing: April 22, 2020

Proof of Purchase:

Presumably company records will be used for verification.

Eligibility:

You may be eligible if you held an RBC account and, between October 10, 2007 and March 1, 2012, you incurred an overdraft fee as a result of its high-to-low posting order. 

Typical Settlement Amount:

All class members whose overdraft fees were not paid due to a negative account balance at closing or were not refunded by the bank will receive, as a payment or account credit, a pro rata portion of the eligible overdraft fees you paid during the class period. The final amount depends on the number of class members and the amount each paid.

Total Settlement Amount: $7.5 million

Class Representative Proposed Incentive Fee:

$10,000

Law Firms:
Bruce S. Rogow PA
Grossman Roth Yaffa Cohen PA
Podhurst Orseck

Case Name: In Re: Checking Account Overdraft Litigation

Settlement Website: RBC Bank Overdraft Fee Settlement Website

Claims Administrator:
Epiq Systems

Claims Administrator Contact Information:

Dasher v RBC Settlement Administrator
c/o Epiq
P.O. Box 4109
Portland, OR 97208-4109
1-855-958-0544

Tags: Overdraft Fees, Posting or Settlement Order, Your Bank