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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

Bank of America Building

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

Axos Bank Building and Name

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

Municipal Credit Union Name

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

Nutmeg State FCU Name and Logo

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

Workers Credit Union Location

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

Green TD Bank Logo

Sunflower Bank Multiple NSF, OD Fees on One Item Class Action

Overdraft and non-sufficient funds fees fall most heavily on those who can least afford them, says the complaint for this class action. The complaint alleges that Sunflower Bank, NA routinely charges customers two or more non-sufficient funds (NSF) fees or overdraft (OD) fees on a single transaction. It claims that this practice violates the terms  Read more

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Credit Union 1 Multiple Non-Sufficient Funds Fees on One Item Class Action

Credit Union 1 (CU1) is the second-largest credit union in Alaska. The complaint for this class action alleges that CU1 has improperly been charging additional fees on a single item if it gets presented for payment more than once. Until it changed its disclosures, the complaint says, the multiple charges on single items violated its  Read more

Credit Union 1 Name

Trustco Bank Charging Multiple Fees on a Single Item Class Action

If an item is submitted for payment a second time, does it become a second item? Or is it still the same item? The complaint for this class action alleges that Trustco Bank improperly charges multiple $36 fees on a single item and that this practices violates its account agreements.  Read more

A Trustco Bank Location

Hanscon FCU Unlawful Imposition of Fees Class Action

Hanscom Federal Credit Union, claims the complaint for this class action, seeks “to maximize the fees it imposes on members.” It does this, the complaint says, by charging overdraft (OD) or nonsufficient funds (NSF) fees on accounts that had enough money to cover the transactions, and by imposing more than one NSF fee on a  Read more

A Hanscom FCU Location