PNC Bank settles excessive overdrafts class action for $90 million

Posted on: June 29th, 2012 by Steve Larson

Earlier on this blog, I reported that Judge King in the MDL proceedings in Florida had certified a nationwide class action against PNC Bank.  Now, PNC Bank has agreed to settle the claims of its customers who contend it charged excessive overdrafts when it changed the method of posting debit transactions to largest to smallest.  This is the latest in what is becoming a fairly large line of settlements.