LAWSUITS NEWS & LEGAL INFORMATION
Credit Union Excessive Overdraft Fees Legal News Articles & Interviews
July 9, 2020. By Anne Wallace.
Read [ TD Bank Hit with Excessive Bank Overdraft Fees Lawsuit ]
Camden, NJ On June 24, Judith Jimenez filed a class action bank overdraft fees lawsuit claiming that TD Bank, NA re-opened her checking account, which the bank had previously closed, for the express purpose of charging her an overdraft fee. Mission accomplished, the bank then closed her account again – all without her authorization. The lawsuit further claims that TD Bank had a routine practice of opening accounts in the names of consumers without lawful authority. If this sounds familiar, it should.
June 24, 2020. By Anne Wallace.
Read [ District of Columbia Sues Elevate Credit, Inc. ]
Washington, DC On June 5, Karl Racine, Attorney General for the District of Columbia filed a lawsuit against Elevate Credit Inc., alleging that Elevate charged loan interest rates on what are essentially internet payday loans in excess of the District’s usury limits. The interest rates of 149 to 251 percent associated with Elevate’s Rise and Elastic brand loans set a trap for low-income consumers similar to excessive bank overdraft fees many banks charge for “overdraft protection” on a checking account.
June 9, 2020. By Anne Wallace.
Read [ Federal Court Sends Excessive Overdraft Fees Plaintiffs to Arbitration ]
Chicago, IL On May 18, the District Court for the Northern District of Illinois ruled that two of the three named plaintiffs in Page v. Alliant Credit Union could pursue their claims only through arbitration. This ends their participation in a class action bank overdraft fees lawsuit. The lawsuit alleges that Alliant charged insufficient funds fees even when there was enough money in their checking accounts. Unchallenged, the decision would seriously dim their chance of prevailing against the credit union.
May 29, 2020. By Anne Wallace.
Read [ Excessive Overdraft Fee Lawsuits Hit the Heartland ]
Johnson County, IA In March 2020 Catherine Razavi filed a bank overdraft fees lawsuit against GreenState Credit Union. She alleges that the credit union charged her an overdraft fee even though there was enough money in her account and seeks class-action status for the lawsuit on behalf of similarly situated customers. Her story is symptomatic of a problem that extends far beyond the Iowa state line.
May 22, 2020. By Anne Wallace.
Read [ Mandatory Arbitration Amendments Thwart Excessive Overdraft Fee Lawsuits ]
Washington, DC Even with a promising bank overdraft fees lawsuit, checking account consumers can find themselves suddenly, unexpectedly blocked by an obligation to arbitrate disputes with a bank or credit union. Consumers are often not even aware that they have signed these agreements. Under recent U.S. Supreme Court rulings, that can be the end of a class action lawsuit.
April 23, 2020. By Anne Wallace.
Read [ Wells Fargo Fake Account Scandal Grinds On ]
Oakland, CA The Northern District of California has approved attorneys’ fees in the settlement of the latest lawsuit arising from the massive Wells Fargo fake account fraud. The scandal came to light in 2016 after account holders raised questions about mysterious bank overdraft fees that they were charged. The bank’s misconduct, however, may date back at least as far as 2002.
April 10, 2020. By Anne Wallace.
Read [ Three litigation theories of excessive bank overdraft fee lawsuits ]
Ft. Lauderdale, FL When people come to talk to Jonathan Streisfeld, a KO partner, about excessive bank overdraft fees and returned item fees, “they feel frustrated with the number of fees assessed on what should be a small dollar transaction. They are confused about their bank’s practices.” More than anything, they just want their money back. The problem occurs with banks and credit unions alike.
December 13, 2019. By Anne Wallace.
Read [ Defendant 'Grateful' for Credit Union Overdraft Fee Lawsuit ]
Denver, CO Ent Credit Union has agreed to settle a class action credit union lawsuit concerning excessive overdraft fees. Its CEO has issued an apology and promises to refund all identified NSF fees and overdrafts. Here is what Ent CEO Chad Graves said, “We are truly sorry for the inconvenience this has caused our members and are grateful to both our members and their attorneys for bringing it to our attention.”
November 11, 2019. By Anne Wallace.
Read [ Philadelphia Federal Credit Union Accused of “Gouging” Consumers with Multiple NSF Fees ]
Philadelphia, PA “Gouging” is often implied, but rarely actually said excessive overdraft fee lawsuits. But there it is, in the class action lawsuit’s description of Philadelphia Federal Credit Union’s practice of charging multiple $28 insufficient fee charges for the same transaction and PFCU’s legal duty not to “[exercise] its discretion to enrich itself and gouge its customers.” It’s hot language, but a simple story.
October 16, 2019. By Anne Wallace.
Read [ United Federal Credit Union Settles Excessive Overdraft Fee Lawsuit for $1.75 Million ]
Reno, NV On July 23, 2015, Tonya Gunter had enough money in her checking account to cover her transactions. Nonetheless, United Federal Credit Union (UFCU) charged her eight $30 overdraft fees because her “available balance,” a different and arguably artificially defined number, was too low. Gunter sued. United Federal Credit Union has now agreed to settle Gunter’s class action excessive overdraft fee lawsuit for $1.75 million.
- USAA Bank Forces Individual Arbitration of Excessive Overdraft Fee Claims By Anne Wallace (Sep-17-19)
- VyStar Credit Union Accused of Assessing NSF Fees Multiple Times for Same Transaction By Anne Wallace (Aug-8-19)
- Forced Arbitration Threatens Class Action Excessive Overdraft Fees Lawsuits By Anne Wallace (Jul-18-19)
- Georgia Court of Appeals Affirms Class Action Status for Excessive Overdraft Fees Lawsuit By Anne Wallace (Jun-7-19)
- Online Lender Settles with FTC for $3.85 Million By Anne Wallace (May-8-19)
- $24.5 Million Settlement in Navy Federal Credit Union Excessive Overdraft Fees Lawsuit By Anne Wallace (Apr-23-19)
- Cash Advance? There’s an App for That By Anne Wallace (Mar-25-19)
- Washington State Employees Credit Union Settles Excessive Overdraft Fees Lawsuit for $2.99 Million By Anne Wallace (Feb-15-19)
- Credit Unions – A Case of Shutdown Shame? By Anne Wallace (Jan-24-19)
- Trustmark National Bank Latest Defendant in Excessive Overdraft Fees Lawsuit By Anne Wallace (Dec-21-18)
- Excessive Overdraft Fees Lawsuit against DFCU Survives Motion to Dismiss By Anne Wallace (Nov-23-18)
- Digital Federal Credit Union Snared in Excessive Overdraft Fees Lawsuit By Anne Wallace (Oct-3-18)
- Landmark Credit Union Settles Overdraft Fees Lawsuit By Jane Mundy (Aug-15-18)
- Credit Union Lawsuit Cites Excessive Overdraft Fees By Anne Wallace (Jun-20-18)
- Death by Delay – CFPB Defers Credit Union Overdraft Regulations into Indefinite Future By Anne Wallace (May-22-18)
- Study Finds Consumers Complain Most About Banks With Highest Overdraft Fee Revenue By Deb Hipp (Jul-19-17)
- Excessive Bank Fees: Did We Learn Anything From the $7.8 Million UMB Settlement? By Gordon Gibb (Aug-22-16)
- Bank Faces $10 Million Fine Linked to Overdraft Fees By Heidi Turner (Aug-11-16)
- Proposed New Rules a Boon for Consumers Facing Excessive Credit Union Fees By Gordon Gibb (Jul-13-16)
- Overdraft Fees Still a Big Payday for Financial Institutions By Heidi Turner (Jun-18-16)
- Does Charging Excessive Overdraft Fees Violate Credit Union Non-profit Status? By Gordon Gibb (May-14-16)
- Wells Fargo Loses Overdraft Fee Appeal By Heidi Turner (Apr-13-16)
- Consumers Continue to Get Stung by Excessive Credit Union, Bank Overdraft Fees By Gordon Gibb (Mar-14-16)
- Panel Declines Consolidation of Credit Union Lawsuits By Heidi Turner (Feb-22-16)
- Credit Union Excessive Fees Lawsuits Could Be “Tip of the Iceberg” By Gordon Gibb (Jan-14-16)
- It’s Not Just the Banks Charging Excessive Overdraft Fees By Heidi Turner (Dec-18-15)
- “There Are Fees for Everything but Breathing the Air” By Gordon Gibb (Nov-25-15)
- Financial Institutions Told to Halt Overdraft Fees on College Cards By Heidi Turner (Oct-29-15)
- Los Angeles Credit Union Sued Over Lack of Consent, Overdraft Fees By Gordon Gibb (Sep-30-15)
- Credit Unions Not Immune to Charging Excessive Fees: Attorney By Gordon Gibb (Aug-22-15)
- Consumers Might Want to Take Note of Overdraft Fees By Heidi Turner (Jul-11-15)