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Class Action Lawsuit Settlement Case(s): Melvin L. Thomas III and Billy D. Lawson, Jr., et al. v. BancorpSouth, Inc., Case No. 12-cv-1016, U.S. District Court, Western District of Arkansas
Website of the Class Action Lawsuit Settlement Administrator (FILE YOUR CLAIM HERE): www.BancorpOverdraftSettlement.com
Address to submit a claim form (REQUIRED):
Details: The BancorpSouth overdraft fee settlement will resolve a class action lawsuit accusing the Mississippi-based bank of assessing non-sufficient funds fees and overdraft fees on debit card and check purchases and ATM withdrawals in a number of ways that were illegal.
According to the BancorpSouth overdraft fee class action lawsuit, the bank resequenced transactions to maximize the number of non-sufficient funds fees and overdraft fees it charged to customers. This was allegedly accomplished by processing the largest transaction first instead of processing the transactions as they were received.
BancorpSouth denies the allegations, but has agreed to a class action lawsuit settlement to resolve the litigation.
A federal court preliminarily approved the BancorpSouth settlement and has set a Final Approval Hearing for July 30, 2012.
More than 350,000 current and former customers are covered under the BancorpSouth class action settlement, which includes all persons in the United States who currently or in the past had a BancorpSouth account in which at least one non-sufficient funds fee or overdraft fee was charged or collected between May 1, 2004 through and including December 31, 2011.
In order to receive a refund from the BancorpSouth overdraft fee settlement, you must be meet the following additional qualifications: (1) you incurred two or more overdraft fees during one banking day as a result of a BancorpSouth debit card transaction during the period listed above, and (2) the overdraft fee was not reversed, refunded, or returned by the bank.
To receive a payment from the BancorpSouth class action lawsuit settlement, you must submit an electronic claim online at www.BancorpOverdraftSettlement.com or a paper claim to the Settlement Administrator no later than September 13, 2012.
Claim forms and more information on your rights in the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement can be found at www.BancorpOverdraftSettlement.com.
Improperly Charged From: May 1, 2004 to December 31, 2011
Claims must be postmarked by: 9/13/12
Settlement Administrator(s): Epiq Systems, Inc.
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Categorized in: Closed Settlements