Home Page Lawsuits Filed Lawsuit: Overdraft Fees Class Action Filed Against Trustmark National Bank
Overdraft Fees Class Action Filed Against Trustmark National BankMemphis, TN: A class action lawsuit has been filed against Trustmark National Bank in Shelby County, Tennessee. The suit alleges that the bank engages in improper practices in its assessment of overdraft fees on consumer checking accounts.
Even though the case is filed in Tennessee it proposes a class action on behalf of Trustmark customers in Tennessee, Mississippi, Florida, and Texas. Trustmark has 186 branch offices in those four states with total assets of $9.7 billion. Trustmark has over a dozen locations in metropolitan Memphis where the case has been filed.
The suit claims that Trustmark, which is headquartered in Jackson, Mississippi, has engaged in these unfair practices in order to increase the number overdraft fees imposed on consumers. The case, styled White v. Trustmark National Bank, was filed by Memphis law firm Watson Burns, PLLC and Atlanta law firm Webb, Klase & Lemond, LLC on behalf of the plaintiffs.
According to the suit, Trustmark routinely enforces a policy whereby debit transactions are posted to consumer accounts in order of largest to smallest by dollar amount, even when larger charges occur days after smaller charges. This maximizes the number and amount of overdraft fees. According to the complaint, Trustmark also deducts certain transactions before debit card items, even though there is no proper reason for doing so. The complaint also addresses other practices of the bank that generate excessive overdraft fees.
The complaint alleges that Trustmark could easily program its software systems to minimize insufficient funds fees without any increased cost or risk to the bank. Instead, according to the complaint, Trustmark has programmed its systems to manipulate transactions to maximize overdraft fee income. Plaintiff claims that these practices constitute breach of contract, breach of Trustmark’s obligation to act in good faith and to deal fairly with customers, conversion, and unjust enrichment. The suit also claims certain practices are unconscionable.
Trustmark National Bank Overdraft Fees Class Action Legal HelpIf you or a loved one has suffered damages in this case, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.
Last updated on May-2-12