UPDATE 2: The BancorpSouth Overdraft Class Action Settlement has been terminated and the lawsuit dismissed.
UPDATE 1: Recent court orders have delayed the claims filing process for the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement.
BancorpSouth has agreed to pay $1.75 million to settle a class action lawsuit accusing it of charging customers improper overdraft fees. Current and former BancorpSouth customers who were charged a non-sufficient funds fee or overdraft fee between 2004 and 2011 can file a claim to receive a refund from the class action settlement.
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.
Detailed instruction on how to file your claim and receive a refund can be found in our Open Lawsuit Settlements section.
Join a Free Bank Overdraft Class Action Lawsuit Investigation
If you have incurred overdraft fees in the last three years from any of the following banks, you may be eligible to participate in a class action lawsuit to recover some or all of your overdraft fees:
- Ally Financial Inc.
- Bank of Hawaii
- Bank of the West
- Capital One Financial Corp.
- Commerce Bank
- Fifth Third Bancorp
- HSBC North America Holdings Inc.
- BOKF NA (includes Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust).
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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.
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