Request Legal Help Now - Free

LAWSUITS NEWS & LEGAL INFORMATION

Credit Union Excessive Overdraft Fees Legal News Articles & Interviews

View Lawyer Interviews only

TD Bank Hit with Excessive Bank Overdraft Fees Lawsuit

TD Bank Hit with Excessive Bank Overdraft Fees Lawsuit July 9, 2020. By Anne Wallace.
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.
Read [ TD Bank Hit with Excessive Bank Overdraft Fees Lawsuit ]

District of Columbia Sues Elevate Credit, Inc.

District of Columbia Sues Elevate Credit, Inc. June 24, 2020. By Anne Wallace.
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.
Read [ District of Columbia Sues Elevate Credit, Inc. ]

Federal Court Sends Excessive Overdraft Fees Plaintiffs to Arbitration

Federal Court Sends Excessive Overdraft Fees Plaintiffs to Arbitration June 9, 2020. By Anne Wallace.
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.
Read [ Federal Court Sends Excessive Overdraft Fees Plaintiffs to Arbitration ]

Excessive Overdraft Fee Lawsuits Hit the Heartland

Excessive Overdraft Fee Lawsuits Hit the Heartland May 29, 2020. By Anne Wallace.
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.
Read [ Excessive Overdraft Fee Lawsuits Hit the Heartland ]

Mandatory Arbitration Amendments Thwart Excessive Overdraft Fee Lawsuits

Mandatory Arbitration Amendments Thwart Excessive Overdraft Fee Lawsuits May 22, 2020. By Anne Wallace.
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.
Read [ Mandatory Arbitration Amendments Thwart Excessive Overdraft Fee Lawsuits ]

Wells Fargo Fake Account Scandal Grinds On

Wells Fargo Fake Account Scandal Grinds On April 23, 2020. By Anne Wallace.
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.
Read [ Wells Fargo Fake Account Scandal Grinds On ]

Three litigation theories of excessive bank overdraft fee lawsuits

Three litigation theories of excessive bank overdraft fee lawsuits April 10, 2020. By Anne Wallace.
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.

Read [ Three litigation theories of excessive bank overdraft fee lawsuits ]

Defendant 'Grateful' for Credit Union Overdraft Fee Lawsuit

Defendant 'Grateful' for Credit Union Overdraft Fee Lawsuit December 13, 2019. By Anne Wallace.
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.” 
Read [ Defendant 'Grateful' for Credit Union Overdraft Fee Lawsuit ]

Philadelphia Federal Credit Union Accused of “Gouging” Consumers with Multiple NSF Fees

Philadelphia Federal Credit Union Accused of “Gouging” Consumers with Multiple NSF Fees November 11, 2019. By Anne Wallace.
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.
Read [ Philadelphia Federal Credit Union Accused of “Gouging” Consumers with Multiple NSF Fees ]

United Federal Credit Union Settles Excessive Overdraft Fee Lawsuit for $1.75 Million

United Federal Credit Union Settles Excessive Overdraft Fee Lawsuit for $1.75 Million October 16, 2019. By Anne Wallace.
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.
Read [ United Federal Credit Union Settles Excessive Overdraft Fee Lawsuit for $1.75 Million ]


Request Legal Help Now! - Free