Insufficient or Non-Sufficient Funds Fees
AmeriCU Multiple NSF Fees and Improper OD Fees Class Action
This class action protests against two practices it alleges AmeriCU Credit Union improperly maintains: charging more than one non-sufficient funds (NSF) fee on a single transaction and charging an overdraft (OD) fee on transactions that did not actually overdraw accounts. The complaint alleges breach of contract and breach of the covenant of good faith and Read more
Alaska USA Federal Credit Union Retry Fee Settlement
Alaska USA Federal Credit Union is settling a class action alleging it charged members a Retry Fee when Automated Clearing House (ACH) and check transactions were resubmitted by a merchant after they had previously been rejected for insufficient funds. The complaint alleges that the second fee, for retrying the transaction, was not permitted by Alaska’s Read more
Bank of America Insufficient Funds and Overdraft Fees Settlement
Bank of America, NA (BANA) is paying $75 million to settle a class action alleging that it improperly charged insufficient or non-sufficient funds fees (and/or overdraft fees) involving the timing of actions in several situations, including for Retry Transaction Fees, for Intrabank Transaction Fees, and for Fee Accrual Claim Fees. The complaint alleged the bank Read more
Axos Bank Fees Not Permitted by Account Documents Class Action
The complaint for this class action claims, “Research shows that fees are the most important factor influencing consumers’ selection of a new banking provider.” It brings suit against Axos Bank, claiming that the bank misleads customers in its account documents as to the fees it will charge. At issue are (a) when it chooses to Read more
Municipal Credit Union Multiple NSF Fees on Rejected Payments Class Action
When a bank account does not contain sufficient fees to cover an item presented for payment, the financial institution may refuse to pay it and charge the accountholder a non-sufficient funds (NSF) fee. The complaint for this class action alleges that Municipal Credit Union goes farther and charges multiple NSF fees on a single item Read more
Amalgamated Multiple NSF Fees on a Single Item Class Action
Banks write agreements that govern the terms of their relationship with customers. The complaint says, “All the bank has to do is honor the contract it wrote and comply with the terms it dictated.” This class action brings suit against Amalgamated Financial Corp., which does business as Amalgamated Bank. The complaint alleges that it violates Read more
Nutmeg State Financial Credit Union Multiple NSF Fees Class Action
Nutmeg State Financial Credit Union, claims the complaint for this class action, took money from customer accounts without authorization. Why? Nutmeg removed the money as non-sufficient funds (NSF) fees for returned items or for overdraft (OD) fees for items previously returned, but the complaint alleges that Nutmeg did not have the right to do so, Read more
Workers Credit Union Multiple NSF Fees on a Transaction Class Action
How many non-sufficient funds (NSF) fees or overdraft (OD) fees should a bank charge on a single item? That depends primarily on what the bank’s own account agreement shows, says the complaint for this class action. Some banks’ account documents allow for multiple fees to be assessed on a single item, but the complaint alleges Read more
TD Bank NSF and OD Fees Charged on Same Item Class Action
When an item is presented against an account with insufficient funds, TD Bank, NA has two choices: It can pay the item, charging the customer an overdraft (OD) fee of $35, or it can return the item, charging the customer a nonsufficient funds (NSF) fee of $35. However, the complaint for this class action alleges Read more
BECU Overdraft and Nonsufficient Funds Fees Settlement
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 Read more
