Overdraft Fees
Banco Popular de Puerto Rico Fee Settlement
Banco Popular de Puerto Rico is paying $5.5 million to settle two class actions claiming it breached its account agreements in charging certain overdraft and insufficient funds fees for retried automated clearinghouse (ACH) payments and checks. Read more
Atlantic Union Bank OD Fees on Accounts Not Overdrawn Class Action
Atlantic Union Bank charges $38 for overdraft (OD) and non-sufficient funds (NSF) fees, one of the highest such fees in the country. But the complaint for this class action alleges that the bank charges these fees not just when an account is overdrawn, but even in some cases when it has a positive balance. Read more
Bangor Savings Bank Overdraft/NSF Fee Settlement
Bangor Savings Bank is putting up $2 million to settle a class action alleging it charged customers improper overdraft or non-sufficient funds fees. The complaint claimed the bank charged these fees in two situations: (1) for automated clearinghouse transactions that were resubmitted by a merchant after the bank had declined to pay them the first Read more
Freedom First Credit Union Improper Overdraft Fees Class Action
This class action brings suit against Freedom First Credit Union, alleging it improperly charges overdraft (OD) fees on debit card transactions that were authorized on accounts with sufficient funds. The complaint alleges that this violates Freedom’s own contracts with customers and Regulation E of the Electronic Fund Transfer Act (EFTA). Read more
TBK Bank Overdraft Fees on APSN Transactions Class Action
The complaint for this class action claims that TBK Bank, SSB charges customers overdraft fees on debit transactions that were authorized on accounts that had sufficient funds. The complaint alleges that this practice is deceptive, breaches the bank’s deposit agreement as well as its OD Opt-In Form, and violates its duty of good faith and Read more
Rhode Island Credit Union Overdraft Fees on APSN Transactions Class Action
The complaint for this class action alleges that Rhode Island Credit Union (RICU) improperly charges overdraft fees on certain debit transactions that were authorized with sufficient funds. “Besides being deceptive,” the complaint alleges, “this practice breaches [RICU’s] standardized adhesion contract” as well as its “duty of good faith and fair dealing[.]” Read more
NBT Bank Overdraft and NSF Fee Settlement
NBT Bank, NA is paying more than $4 million to settle a class action alleging it charged customers certain improper overdraft (OD) and non-sufficient funds (NSF) fees, including APPSN (Authorize Positive, Purportedly Settle Negative) fees and Retry fees. The complaint alleges that NBT breached its account agreements and violated consumer protection laws when it did Read more
Frontwave Credit Union OD Fees on APPSN Transactions Class Action
Frontwave Credit Union, the complaint for this class action alleges, unfairly charges overdraft (OD) fees on something called APPSN transactions, that is, “Authorize Positive, Purportedly Settle Negative” transactions. These are transactions that are authorized when an account balance is positive, but settle at time when the account is in overdraft, and the complaint alleges that Read more
First Interstate Bank APPSN Fees and Retry Fees Settlement
This settlement resolves two class actions against First Interstate Bank, alleging it engaged in two improper practices not permitted by its account agreements. The complaints claimed (1) that the bank charged overdraft fees on certain transactions, known as “Authorize Positive, Purportedly Settle Negative” (APPSN) when accounts were not actually overdrawn, and (2) that it charged Read more
Pelican State CU OD Fees on Non-Overdraft Transactions Class Action
Can a transaction overdraw an account if funds have previously been set aside to pay it? The complaint for this class action alleges that Pelican State Credit Union sets aside funds for debit transactions but then, in certain situations, when the transaction comes up for settlement, it charges the accountholder an overdraft (OD) fee to Read more
