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Wells Fargo Buydown Settlement

Wells Fargo Bank, NA is paying nearly $7 million to settle a class action related to its Buydown Agreements or Buydown Deposit Agreements. The complaint alleged that Wells Fargo (1) violated the federal Truth in Lending Act (TILA) by improperly disclosing the interest rate that would be in effect during the buydown; (2) used a  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

Credit Union of New Jersey Overdraft Fees Without Overdrafts Class Action

Credit Union of New Jersey (CUNJ), the complaint for this class action alleges, charges customers overdraft fees when their accounts are not actually overdrawn. The complaint claims that account statements for the plaintiff in this case show that the account never actually had a negative balance, but that CUNJ still assessed her overdraft fees, and  Read more

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Fifth Third Bank and Non-Fifth Third ATM Fees Settlement

Fifth Third Bank is settling a class action against it for more than $5 million. The complaint alleged that the bank breached its contract with account holders by charging them Non-Fifth Third ATM fees for balance inquiries at ATMs that were not in its network, and for charging them more than one such fee when  Read more

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St. Anne’s Credit Union Unclear Reg E Disclosures Class Action

Federal Reserve Regulation E sets the conditions under which your bank or credit union can charge you overdraft fees on transactions that are not recurring. This class action alleges that St. Anne’s Credit Union (SACU) has violated these rules. The complaint claims that the document used by SACU to inform customers about these fees “provides  Read more

Sign Saying "Overdraft"

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

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TD Bank Says Fraudulent Transactions Were Authorized Class Action

When a person perpetrates a fraud on a bank account, what is the limit of liability for the account holder? The complaint for this class action alleges that TD Bank, NA’s refusal to count a transaction as fraudulent violates both the Electronic Funds Transfer Act (EFTA) and the bank’s own agreements.  Read more

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Bank of America EDD Funds Fraud and Lack of Response Class Action

In the “economic devastation” of the Covid-19 pandemic, millions of people are relying on unemployment and similar government benefits to provide money for basic living expenses. California’s Economic Development Department (EDD) has chosen to have its unemployment benefits distributed in the form of a prepaid debit card, issued by Bank of America, NA. The complaint  Read more

Bank of America Sign on Building

Bank of America Inattention to Fraud on EDD Accounts Class Action

California does not pay unemployment benefits directly. Instead, its Employment Development Department (EDD) has an exclusive contract with Bank of America, NA, which issues the benefits in the form of pre-paid debit cards. Unfortunately, criminals have stealing the benefits from these cards. The complaint for this class action alleges Bank of America is responsible for  Read more

Bank of America Sign Against Blue Sky

City National Bank and Trust Overdraft and NSF Fees Reg E Class Action

Banks may charge overdraft (OD) fees on one-time debit and ATM transactions provided they meet the requirements of Federal Reserve Regulation E, with proper disclosures to, and consent from, the customer. However, the complaint for this class action alleges that the City National Bank and Trust Company of Lawton, Oklahoma does not do this. The  Read more

Bank Statement Listing Overdraft Fees