Tinker Federal Credit Union BIN Attack and Fraud Class Action

This class action concerns something called “a BIN attack” on Tinker Federal Credit Union (TFCU), Oklahoma’s largest credit union, and its two merchant payment processing agents, BOKF which does business as TransFund, a National Association, and Fidelity National Information Services, Inc. (FIS). The complaint alleges that these three defendants did not take adequate measures to  Read more

Tinker Federal Credit Union Location

Pentagon Federal Credit Union Duplicate Withdrawals Class Action

Pentagon Federal Credit Union, or PenFed, has made a series of errors, the complaint for this class action alleges—performing duplicates of certain transactions. Not only has twice the amount authorized been withdrawn from accounts, the complaint alleges, but in some cases accounts have been left with insufficient funds to cover the duplicate transaction or to  Read more

Pentagon Federal Credit Union Location

Bank of America No Help for Defrauded Zelle Users Class Action

Early on, the complaint for this class action says, “The Zelle money transfer system is rife with fraud…” It brings suit against Bank of America, NA (BofA), which advertises the service as being “safe,” yet when consumers are defrauded through its use, it alleges, the bank does not provide assistance to recover the lost funds.  Read more

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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

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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

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Silvergate Bank Aiding and Abetting Crypto Fraud Class Action

November 2022 exposed Sam Bankman-Fried’s fraud and embezzlement involving his cryptocurrency exchange FTX and cryptocurrency hedge fund Alameda Research. But how was he able to dsitribute funds among FTX, Alameda, and himself? This class action brings suit against Silvergate Bank, its parent Silvergate Capital Corporation, and CEO Alan J. Lane, for aiding and abetting the  Read more

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JPMorgan Chase No Recourse for Fraud via Zelle Class Action

This class action brings suit against JPMOrgan Chase Bank, NA and Early Warning Services, LLC, which does business as Zellepay.com, or the money transfer service Zelle. The complaint alleges that Chase invites consumers to sign up for Zelle by implying that it is safe, when in reality, it claims, Zelle is “rife with fraud” and  Read more

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IH Mississippi Valley Credit Union APPSN and Retry Fees Settlement

This settlement resolves a class action alleging IH Mississippi Valley Credit Union fees charged customers improper APPSN and Retry fees. APPSN fees are those charged when an account has sufficient funds when a debit card transaction is approved but insufficient funds when it is settled. Retry fees are those charged when an Automated Clearing House  Read more

IH Mississippi Valley Credit Union

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

Bangor Savings Bank Building

Bank of America Vehicle Repossession Notices Pennsylvania Class Action

Bank of America, NA finances auto purchases, in Pennsylvania and elsewhere; and if the buyers default on the auto loans, it is entitled to repossess and sell the vehicles. But when it does so, the complaint for this class action alleges, the bank does not send proper notices to the buyer, as required by Pennsylvania’s  Read more

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