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$14.5M Comerica Bank Overdraft Fees Class Action Settlement Finalized


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

New York, NY: Final approval has been granted in the $14.5 million settlement of consumer fraud class action involving overdraft fees charged by Comerica Bank NA. The class action involved people who had been charged overdraft fees on their Comerica Bank accounts between 2004 and 2010. The Comerica overdraft class action lawsuit alleged the bank posted debit card transactions in dollar amounts ordered from highest to lowest so as to maximize the number of overdraft fees it could levy against its customers.

According to the lawsuit, rather than declining transactions that would put a customer into overdraft, Comerica authorized the transactions, subsequently processing them in an order that would increase the banks' overdraft revenue.

Eligible class members include anyone who held a Comerica bank account in Arizona, California, Florida, Michigan or Texas and incurred one or more overdraft fees as a result of Comerica' non-consecutive posting of transactions between 2004 and 2010. Specific class periods vary by state.

The Class Periods by state are:

• For Settlement Class Members who opened accounts in Arizona, the period from February 18, 2004 through August 15, 2010.

• For Settlement Class Members who opened accounts in California, the period from February 18, 2006 through August 15, 2010.

• For Settlement Class Members who opened accounts in Florida, the period from February 18, 2005 through August 15, 2010.

• For Settlement Class Members who opened accounts in Michigan, the period from February 18, 2004 through August 15, 2010.

• For Settlement Class Members who opened accounts in Texas, the period from February 18, 2006 through August 15, 2010.

Eligible class members must have had two or more Overdraft Fees caused by debits posted to their accounts on a single day during the time period listed above. For further information on the Comerica class action lawsuit settlement, and to download forms, visit: http://comericabankoverdraftsettlement.com/Home.aspx

The case is Simmons v. Comerica Bank NA, Case No. 10-cv-22959, in the U.S. District Court for the Southern District of Florida. It is part of multidistrict litigation known as In re: Checking Account Overdraft Litigation, Case No. 1:09-md-02036-JLK, in the U.S. District Court for the Southern District of Florida.

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Published on Jul-9-14

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READER COMMENTS

Posted by
Noe
on
They are still doing this. They held my money but didn't allow me to use it for three days so as to incur overdraft fees.

Posted by
Joshua taylor
on
I was charged an overdraft fee that resulted in a returned item that resulted in a loan payment being late. This was all the whole money was in the account. Customer service directed me to a compliance department that subsequently hung up on me and then closed my account. Please help. It's not a lot of money but it is principle. Please feel free to contact me. Thank you

Posted by
Carole hemstreet
on
I'm a customer of Comerica, and a victim of this same practice. Has anyone filed a new Class action lawsuit against them for the same thing?

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