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$110M Settlement Approved in Chase Bank Overdraft Fees Class Action Lawsuit


This is a settlement for the Excessive Bank Overdraft Fees lawsuit.

New York, NY: A $110 million settlement has received final court approval, ending an overdraft fees class action lawsuit against Chase Bank.

The settlement is the latest settlement to be reached in the massive class action lawsuit involving over 30 banks who are alleged to have manipulated customers transactions in such a way as to maximize overdraft fees.

The allegations also state that rather than declining transactions on an account that has insufficient funds to cover a purchase, Chase Bank authorized the transactions and then processed them in highest to lowest dollar order, which effectively increased the number of overdraft fees charged.

As part of the settlement agreement, Chase will, for a period of at least two years, cease charging overdraft fees on individual debit card transactions of $5.00 or less.

Class members include anyone who (A) held a Chase, Bank One, or Bank of New York consumer deposit account accessible with a Chase debit card anytime between January 1, 2003 and March 29, 2010; and (B) were charged one or more overdraft fees as a result of Chase' practice of posting debit card transactions from highest to lower dollar amount.

For complete information on class and settlement eligibility, claim forms and filing dates visit ChaseOverdraftSettlement.com.

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Published on Jan-4-13


READER COMMENTS

Posted by

on
Hotels Overcharge in my bank account Charging me 2 and 3 times A-day For hotel Room Told Chase about it They say I waited too long And I show them the proof They says nothing they could do about it

Posted by

on
One could simply say it's a case of not having enough money at the moment, but it appears to me the JP Morgan Chase is manipulating charges to make my account overdraft, thus to incur fees.

To prove my theory, I have been taking screen shots on my iPhone of my account to demonstrate this. Yesterday, I covered a balance to bring it to .47. This included overdraft fees. Took a picture. Two days later without additional charges made, more fees show up for items already covered.

I am ready to dump Chase, but there isn't meaningful competition in my area and I would rather fight them for the moment.

Posted by

on
Maybe some really good legal malpractice lawyers for consumers would be willing to help...Clearly the bank is manipulating the legal system to overcharge and do other bad things....The financial meltdown has been responsibly estimated to have cost every individual American $70,000 over the course of his her life...In 2017 laws were secretly passed to prevent regular citizens from filing class action lawsuits against the banks, which is completely crazy and downright evil, in my opinion.

Posted by

on
I have been with chase for 2 years. I am on social security and I love in pueblo colorado. Chase does not have a office branch in pueblo. I do ALL of my banking online (which is disasterous) only because the nearest branch is 40 miles from me and I don't have transportation. This is devastating to me because they are double charging me overdraft fees for bills I pay every single month. I am signed up with sellers bill pay and I told them to STOP paying rent a center. Took 2 months and they charged me $30 for that. Everytime I get 'MY OWN MONEY" OUT OF THE ATM. I GET CHARGED $3 FROM THE ATM AND CHASE CHARGES ME $2.50 ON TOP OF THAT. AND IF I WANT TO CHECK MY BALANCE ONLY IT'S$2.50 IT USED TO BE .50 UNTIL I KEPT SENDING THEM EMAILS AND TELLING THEM THEY ARE RIPPING ME OFF. I HAVE BEEN DOUBLE CHARGED FOR PAYMENTS. MY EMAILS ABOUT BALANCE OR INSUFFICIANT FUNDS COMES A DAY LATE.. OUT OF A $34 OVERDRAFT FEE THEY REFUNDED $8 OF IT BECAUSE IVE CALLED SO MANY TIMES THEY SAID I'VE REACHED MY LIMIT. THEY LET LIL THINGS GO THROUGH AND CHARGE ME $34 ... I NEED HELP WITH THESE A**HOLES... THANKS FOR LETTING ME VENT.. SIGNED FED UP W CHASE BANK

Posted by

on
Most of my transactions with Chase were always charged out of order so that chase would benefit from overdrafting me. In one year alone I paid over $7500 worth of overdraft fees and other fees. I deposited my paycheck every week with Chase Bank (my weekly paycheck was always around $850 to $1150). Chase would constantly overdraw my account and I had money consistently flowing thru my account but Chase Bank would process payments out of order purposely to charge me fees such as overdraft fee and then extended overdraft fee and extended extended overdraft fees. I started taking note of this and would reach out to Chase customer service via email until they blocked me from using my online banking. So i could not use my online banking but i still had an account. They constantly would hold my paycheck saying it was the providers bank holding the funds but I would contact the provider and they would tell me that money was taken by chase already. Chase even screwed me over with my rent. I would pay my rent online and set it up as an auto monthly bill. A total of 10days had passed with my rent being paid to out of the blue getting a call from my apartment management company saying that they have never ever seen this ever happen or even be possible but Chase had gone in and took back my payment for rent. The management company was speechless and Chase wouldn’t give me an explanation. I was working 7 days a week, 15 hour days to only have my paychecks be stolen from Chase with weekly fees.

Posted by

on
Again, just like the other individuals here on this story, Chase are a bunch of CROOKS robbing the customers. How do we stop these big buisness bullies , robbing people . I actually covered my account to a positive before any overdraft can be applied and still was charged the NEXT DAY a overdraft fee although my account was on a positive ! They are crooks !

Posted by

on
As to this day chase is still over drafting accounts I had enough funds to cover my Netflix and Apple account after they took out the payment and I had a positive balance they hit me with 2 overdraft fees which put me in the negative ???? this is ridiculous chase is money hungry and I will not continue to pay them

Posted by

on
i have been on some hardship lately but on those matter i pay the cost to be the boss ( so to Say) however i have made a few deposit
lately to avoid the over draft fees deposited way before the so called Cut of time, on april the 26 2019 i had fee after i made a 2,800 deposit and then on 5/20 /19 i was i over drawn from the weekend
over about $400.00 dollars and i made a depoit of $931.00 to cover so i would not get any fees however they put a 10 day hold on a check that the hold dept said no reason fro it to be held and charge me $105.00 fees and i still can't use any of the money that i deposited. yesterday i have place several call on a total of 4 issue of this matter that happen pretty often. the 1st the gave me back the 3 charges that was an issue on there end as fault not mine but it effected me with not being able to get anything refunded back to me at all . went thru this matter each time all we are sorry all we ever hear. as many can relate to this im sure. the 2nd time i sucked up the 3rd time i sucked it up again so now we at$315.00 in fees and then again yesterday another $105.00 this is taken money from my family i live day to day week to week as many do so every penny is accounted for. i spent an hr in half on the phone with rep and customer service & the hold dept a supervisor her to get very rude to me when i was pretty calm for the most part im tired of taken a back seat to this bank and be walked over and taken full advantage of . i want to sue them for all my fees back when as well i have been with them for 6 months an di have paid probably about 600.00 plus in fee like i said earlier i pay the cost to be the boss when i been short and needed food or gas for my family put i paid them and never blinked and eye or made a phone call them knowing i was the guilty one on that part but these other issue are ludris and if they are doing this just to a few of us AGAIN then im sure there is 100"s of us again.

Posted by

on
As of Today, 5/4/2019....Chase is still arranging customers transactions in such as way as to maximize overdraft fees!

Posted by

on
Chase is still robbing customers of money by deducting charged amounts from the balance even when they are pending then if a second charge is comes through that overdrafts the account they will charge you insufficient funds fees for both transactions even though they already deducted the first charge from your balance which was more than enough to cover it. How is this legal?

Posted by

on
I am glad I came across this. I believe Chase is still doing this and have paper evidence (ATM receipt) as well as banking correspondence e-mails which seem to contradict that they should not be charging overdraft fees according to their policy located in the below link.

In one instance they removed a cash deposit (as shown as available on ATM receipt) to be deposited the next day after something hit that caused an overdraft fee. In the other, an overdraft was supposed at 11:59 the night prior (in which chase would be closed), so the next day, despite the direct deposit from work that morning, they still charged an overdraft fee despite the below linked Chase policy.

If you know of anyone who can aid in this matter, please reach out to Brian Droncheff (I am easily google-able and don't want to put my e-mail here). I am hoping to keep banks honest - which might be an impossible endeavor, but I hope to persuade them to stop taking advantage of people.

Posted by

on
I bank with chase and they allowed me to overdraft and i had direct dreposits to correct it. After making an agreementto bring it current to keep my account open they closed one of my accounts that same day after they got off the phone. They can say one thing and do another. You are the only one who has to follow rules. They can say and do whatever they want.

Posted by

on
They continue to manipulate debits so they can rake in fees. They take out the most expensive item first so everything else is charged an NSF fee. I would love to see them lose another 110m!!!!!!!!!!!!!

Posted by

on
Since 2017 I’ve been charged over $2018.00 in overdraft, extended overdraft and returned payment fees on my chase checking account. I’m disabled and receive a fixed monthly income. I have made attempts to work with chase. Most of these charges and fees were from reoccurring payments that I’ve been specifically told will not be on my account. I need help and would like to start a class action lawsuit or be contacted by a lawyer. This amount is absolutely rediculous and the best chase could do was refund me $108 in total.

Posted by

on
I have been with chase bank since 2006. I have done electronic transfers for many years to the Chase account.They seem to pick and choose when deposits of this nature are recorded even though where the money is transferred from will show through deposit records that Chase has the transfer and it hasn't been recorded.In this day and age of electronic transfers monies should be there the next day(excluding Sundays and Holidays).I have direct deposit as well and these transfers are at random too.If my account has a few dollars in it and doesn't have any payments pending my automatic deposit goes in on midnight.If there is a low or no balance and a payment is presented the payment seems to post at 5:00 and accruing an overdraft fee (s).I believe they are manipulating these funds to collect interest for their bank and charging me NSF fees, a double whammy so to speak. I have not set up my account to accept purchases if there are insufficient funds yet they still process the transaction.

Posted by

on
As far as I'm concerned Chase has never stop doing it they will not manipulate your charges and change the order in which they are in so that they can charge more than one overdraft fee I have physically sat and watch them do it they also try to charge me overdraft fees after my account was in a good status I'm pretty sure they will never stop doing this I am going to start looking for a new bank I think everyone should

Posted by

on
I have the same.issues with Chasethe have charged me over 800.00 monthly for the past 3 years in overdraft fees. I have the funds in the account for 3 transactions and because I may be short for the 4th one they will charge me for all 4 transactions and then when I call them they will say they were pending even though the removed the funds from my account while theu were pending. Chase just recently refund monthly charges to my 2nd account but my questions are what about these illegal overdrafts charges. I would like to sue them also.

Posted by

on
Checking see if I'm part of it

Posted by

on
Chase has done this to me multiple time and continues to do this. In fact this morning was one! Funny how they seem to continue to do this, with no repercussions but takes my money! Wow!

Posted by

on
Chase Overcharged Overdraft Fees over and above I have a Disability and I'm alone eplease have some Mercy Please

Posted by

on
I have been with Chase several yeas now and they have overdraft my account many times. They manipulate the transactions against my deposits and then overdraft me and then put my deposits through. How do banks get buy with this!

Posted by

on
Chase Bank has robbed me of 1000's over the years. It was suggested by one of the bankers during one of my "please refund me for these OD fees" visits, that I switch banks if I was unhappy with them. This was after she refunded me for 3 of them and was unable to give me a logical explanation as to how it happened.

To all above...
Take video of your ledgers before and after midnight.
Call the merchants and get verification as to when they processed their receipts, and make freinds with whomever processes your payroll. Track all of this and document.

Chase is documenting on their end as well. Tracking your auto debits, your direct deposits and your debit transactions. They make it very difficult to document.

Someone will come along soon that will be will in to take on this wretched corporation that making millions off of middle class like us living paycheck to paycheck.

I will be on the front line with all of my snapshots, videos, and documentation from the merchants that are apparently (according to Chase) the reasons for these Overdrafts.

Looking forward to getting my hard earned money back.

Posted by

on
It is still happening now! Just happened to me last night/this morning. I use this account strictly for paying bills and I check my account daily. Last night a bill was taken out that had previously shown pending and then was removed and now showed my account -$85, I used their zelle money transfer (that was pushed on me by branch manager at local branch) instead of my normal withdraw cash to deposit into right account and was hit by 2 overdraw fees now making my account -$68. They are refusing to give my money back! Saying there is nothing they can do!

Posted by

on
I I've gone through this many times with Chase. I actually spent 30 minutes on the phone with them this morning over something Shady that they were doing with my account. The lady on the phone, knew exactly what I was talking about. They make the statement that they cannot arrange transactions or backdate them. But they do it constantly. They have arranged it where you cannot do a screenshot of your account online... But I use a different phone to take a picture of my account that proves what I am talking about. She claimed that she could not help me but when I told her that our conversation was being recorded and I will call back on Monday; her tone towards me changed. Then she wanted to know what could she do to make me happy. Smfh. When another class action lawsuit happens, I will be on it.

Posted by

on
Chase is doing it again I had one that was $2.95 overdrawn they charge me $35.00 for the overdraft. also had a representative from Chase give someone my social security number my routing number my checking number and other information this was given to me by an individual who had called Chase and ask for the information in received it I have contacted multiple firms and no firm will touch Chase looking for an attorney who will. they have locked both of my accounts down in our closing them I asked why their loss prevention told me they do not need to tell me nothing and she decided to hang up the phone. I still have the recording from the conversation

Posted by

on
I never thought I'd be saying this. Chase has done the same to me and are still doing it! I'm done with them!

Posted by

on
Chase still manipulating deposits and withdraws to maximize overdraft fees. I personally am experiencing it. I have for years been direct deposited from Etsy each Monday morning I am sent a letter telling me the funds where released to my bank for sales over weekend. Every Monday I show a cleared deposit by Tuesday AM for this amount in Chase UNLESS I have a check that will clear that night. Than for some reason they show my deposit as Pending on Tuesday AM.
Last night 4/30/18 at 11pm I was able to withdraw $200 cash from ATM. At 5 pm same day I only had $29 in banks so obviously they released the funds from my $583 direct deposit from Etsy or I would not have been able to withdraw cash in any way. I also have revoked Chase to allow any overdraft on my cards so even if a purchase it would have been denied if funds where not available.
I check my account apx 2 am when I get home and my account shows $299 available, with the $200 withdraw cash completed and a $100 check pending.
This morning I show that the $100 check cleared prior to deposit ( which is impossible if they paid me ATM cash) and than an overdraft fee. Than a NOW PENDING Deposit of the $583 and THAN a PENDING cash ATM of $200.
This is so blatant manipulation. Again, since I would not have been able to withdraw cash if funds where not available and since I withdrew funds prior to Midnight on previous day and since when I did withdraw funds the check had not even posted and obviously my deposit was not pending but cleared enough to pay me so should have been able to pay for check also. This was Monday nothing would have cleared prior since weekend. And again, every Monday deposit is CLEARED not PENDING when I check my account on Tuesday mornings for years unless there happens to be a check that would have posted on Monday night.. than Chase shows my deposit as pending every time.
They are criminal.
I am writing this for my Ex husband whom I am helping with all matters since he is not able to do computers or familiar with anything but being a roofer for over 48 yrs I am the one who helps him pay bills online, bank etc.. working on a POA

Posted by

on
I have paid thousand in over draft fees

Posted by

on
They are still reordering transactions. It's happened to me multiple times. I also got charge a $2.50 fee for checking my balance at a convenience store ATM. So, They get you even when you're trying to be responsible and not over draft..

Posted by

on
Chase is still using an algorithm to push and hold transactions. I have family that worked for chase and saw it first hand. They flag accounts and continue to use what they already where sued for again. They have a bank timeline that they can also change or manipulate. Just happened yesterday and today to my account. Just collecting enough info and pictures of account to do another class action. Cant wait.

Posted by

on
How funny, they have to pay back few million dollars but their profits exceed billions. Crazy

Posted by

on
I have same problem with over draft fess

Posted by

on
Chase has taken over $4,000 in overdraft fees in 5 month time frame. I want to sue them. Because of their stupidity and some bs they make up, ive lost my health insurance and my credit has depleted. Im a 35 year old with terminal illnesses and due to chase bank im left to just go without.

Posted by

on
Chase still reorders transactions. They just did it to me last week. Guess Chase just laughed at this court ruling.

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