Federal court certifies class action against BancorpSouth Bank

Posted on: May 15th, 2012 by Steve Larson

Judge King in the southern district of Florida certified a class action against BancorpSouth Bank.  The bank is one of the dozens of banks with cases pending against it in the southern district of Florida, which were transferred there by the Multi-District Litigation Panel.  I have mentioned these cases several times in posts on this blog.

The class is defined as follows: 

 All BancorpSouth Bank customers in the United States who, within the applicable statute of limitations preceding the filing of this action to August 13, 2010 (the class period), maintained a non-commercial account, and incurred an overdraft fee as a result of BancorpSouth’s practice of re-sequencing debit card transactions from highest to lowest dollar amount.

In other similar cases, once the court has certified a class action, the bank has usually decided to start talking settlement with plaintiff’s counsel.