Tag: Bank overdraft

Comerica Bank settles excessive overdraft class action for $14.58 million

September 5, 2013 by

On August 12, 2013, Comerica Bank informed Judge King in the Southern District of Florida that it had signed a summary agreement with plaintiff’s counsel settling the excessive overdraft lawsuit pending in the Southern District of Florida for $14.58 million.  This is another in a wave of recent settlements in these excessive overdraft lawsuits.

Wells Fargo may be liable under UTPA in excessive overdraft cases

January 29, 2013 by

Wells Fargo Bank is not entitled to demand arbitration on appeal for a customer class action suit challenging the bank’s high-to-low debit card posting scheme under California’s Unfair Competition Law as “unfair” and “fraudulent.” National banking laws preempt California state law regarding the unfairness of a bank’s posting scheme, but not any fraudulent misrepresentations made

Court preliminarily approves excessive overdraft settlement with PNC Bank

January 28, 2013 by

In June, 2012, I reported that after Judge King in the MDL proceedings in Florida certified a nationwide class action against PNC Bank, the bank 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. On December 7, 2012, Judge

Ninth Circuit reverses District Court finding against Wells Fargo in excessive overdraft class action

January 18, 2013 by

Just as the holiday bills are about to come due, a federal appeals court Wednesday ruled that banks may post checking account withdrawals in a manner that allows them to garner higher overdraft fees. A three-judge panel of the U.S. 9th Circuit Court of Appeals unanimously overturned a District Court injunction that prohibited Wells Fargo

Susquehanna Bank settles excessive overdraft fee class action

January 17, 2013 by

Another 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

Court grants final approval to excessive overdraft class action settlement against JPMorgan Chase

January 8, 2013 by

On December 20, 2012, Judge King in the Southern District of Florida granted final approval to a settlement that provided $100 million in cash, and $52 million in future savings to the class because of a changed business practice at JPMorgan Chase.  The settlement was between JPMorgan Chase and its customers who were allegedly charged

TD bank settles excess overdraft class action

September 25, 2012 by

Plaintiffs and TD Bank, N.A. have agreed to a settlement of an excessive overdraft class action pending in the Southern District of Florida as part of the multidistrict litigation pending there.  Plaintiffs and the proposed Settlement Class would release their claims in exchange for TD Banks total payment of $62 million.  In addition, TD Bank

US Bank agrees to settle excessive overdraft fee class action for $55 million

September 13, 2012 by

Another bank has agreed to settle an excessive overdraft fee class action.  U.S. Bank announced that it will settle this class action for $55 million.  As I earlier wrote on this blog, there are dozens of cases against banks alleging the banks reordered debit card transactions from largest to smallest, rather than processing them in

Bank’s attempt to avoid CAFA jurisdiction in overdraft class action rejected

August 6, 2012 by

Judge James Lawrence King of the U.S. District Court for the Southern District of Florida recently concluded that the Court had subject-matter jurisdiction under the Class Action Fairness Act (CAFA) over putative class claims against United Bank, a West Virginia bank, despite the submission of some proof by the defendant that the three exceptions to

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