Commerce Bank settles excessive overdraft case for $18.3 million

Posted on: August 29th, 2012 by Steve Larson

On August 16, 2012, Judge King of the Southern District of Florida federal court preliminarily approved a settlement of a class action against Commerce Bank arising out of the bank’s alleged practices of reordering debit transactions from largest to smallest.  More than a dozen of these class actions that were all pending in the Southern District of Florida after being transferred there by the MDL panel have settled in recent months.