Susquehanna Bank settles excessive overdraft fee class action

Posted on: January 17th, 2013 by Steve Larson

FeeAnother bank has chosen to resolve the claims that they overcharged customers when they changed their policy for recording debit transactions from highest to lowers. 

Plaintiffs, individually and as representatives of a proposed Settlement Class, and Defendant, Susquehanna Bank notified the federal court in the Southern District of Florida that on December 20, 2012, they executed a Summary Agreement that sets forth the material terms of the parties’ binding and enforceable agreement to fully resolve all claims in the class action lawsuit based on Susquehanna Bank’s payment of the sum of  $3.68 million. 

Susquehanna Bank did not admit liability.  The settlement is subject to preliminary and final approval of the Settlement by the Court.