Excecessive Overdraft Fee Legal News Articles & Interviews

Tacoma, WA Washington State Employees Credit Union (“WSECU”) has agreed to pay $2.99 million to settle an excessive overdraft fees lawsuit. The class action lawsuit, Wodja v. Washington State Employees Credit Union, alleges that WSECU charged overdraft fees when members actually had enough money in their accounts. The settlement covers individuals affected by the credit union’s overdraft practices between 2009 and 2016.

Washington, DC This is a good news/bad news story. The good news is that many banks and credit unions are offering financial relief to workers affected by the US government shutdown. The bad news is that the relief is designed to be temporary and limited. It also fails to address the widespread problem of excessive checking account overdraft charges that has been exposed through excessive overdraft fees lawsuits. These fees, like payday loan interest charges, cause great harm to the most vulnerable consumers.

Jackson, MS In the waning days of December 2018, Cryesha McDonald and Chantal Lewis filed an excessive overdraft fees lawsuit in the U.S. District Court for the Southern District of Mississippi. The lawsuit alleges that Trustmark National Bank assessed overdraft fees in violation of its contractual agreements with customers. Like similar lawsuits brought throughout the country, McDonald v. Trustmark National Bank claims that the bank charges fees on transactions that do not actually overdraft the account. Attorneys for the plaintiffs seek class action status for the lawsuit.

Boston, MA Brandi Salls’ excessive overdraft fees lawsuit against Digital Federal Credit Union (DFCU) has survived the credit union’s Motion to Dismiss. This is good news, but it was a near thing, at least with respect to some of the counts. Claimants in similar credit union lawsuits should take away five important lessons.

Boston, MAThe allegations in the latest excessive overdraft fees lawsuit against Digital Federal Credit Union (DFCU) may seem familiar by now. It is about two different ways of calculating an account balance – one which the consumer saw, and the other, lower number, which DFCU kept much closer to the vest. Similar lawsuits have been filed against Landmark Credit Union, Summit Credit Union, Pentagon Federal Credit Union and Boeing Employees Credit Union.

San Diego, CA Bank fees are growing rapidly, and consumers are feeling the pinch. Furthermore, many customers feel that they are somehow being hoodwinked into paying hidden, undisclosed costs. On August 2, 2018, Reyna McGovern filed a class action excessive bank fees lawsuit against U.S. Bank, N.A. (US Bank). Her lawsuit tackles two thorny issues: out-of-network ATM fees and overdraft fees charged when her account showed a sufficient account balance.

Washington, DC On July 20, 2018, the Bureau of Consumer Financial Protection (CFPB) offered to settle its claim that TCF National Bank engaged in deceptive practices to market its overdraft protection services. In its bank overdraft fees lawsuit the CFPB alleged that these practices affected students at the University of Minnesota, with which TCF has a beneficial financial relationship. As their bright young things head off to college, should parents be concerned? Students and other inexperienced and lower income banking customers are particularly vulnerable to excessive overdraft fee schemes.

New Berlin, WI: Danell Behrens filed a proposed class action overdraft fees lawsuit in February 2017 against Landmark Credit Union (LCU), alleging the not-for-profit financial institution charged its members more than $2 million in overdraft fees, in violation of the Electronic Fund Transfer Act (ETFA) and LCU’s own overdraft program contract. LCU has agreed to refund some of those fees and change its overdraft practices as part of the settlement agreement.

Washington, DC: You may have been charged excessive bank overdraft fees unknowingly. Or maybe you filed a bank overdraft fees lawsuit some time ago to fight back against the banks. If so, you may be able to make money from the banks, namely Bank of America, Wells Fargo, JPMorgan Chase and TCF National Bank.

Madison, WI: In March 2018, Matthew Domann filed a class action lawsuit against Summit Credit Union alleging that since 2010, SCU has wrongfully charged overdraft fees to checking account customers throughout Wisconsin. The credit union lawsuit details a practice of placing “holds” on pending debit card transactions and deposits to artificially depress the account balances and then reordering the transactions to maximize the number of overdraft fees assessed.