Sarah Mirando  |  October 4, 2012

Category: Legal News

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Chase overdraft settlement

UPDATE 4.26.13: The Court entered Final Approval to the Chase overdraft class action settlement. All settlement funds will be distributed before May 17, 2013.

UPDATE 1.4.13: The Court approved the Chase overdraft fee class action lawsuit settlement on December 19, 2012. Payments will be made after any appeals have been resolved. At this time no appeal has been filed.

JPMorgan Chase & Co. has reached a class action lawsuit settlement of $110 million to resolve claims it gouged checking account customers with overdraft fees by manipulating the order debit card transactions were posted. If you held a Chase, Bank One or Bank of New York checking account between 2003 and 2010 and were charged more than one overdraft fee in a single day, you may be eligible to receive a payment from the Chase overdraft fee class action settlement.

The Chase overdraft settlement is the latest settlement to be reached in the massive class action lawsuit In re Checking Account Overdraft Litigation. The litigation involves more than 30 banks sued over their overdraft-fee policies, in which customers say the banks reordered debit card transactions in order to maximize overdraft fees. The Chase overdraft fee class action lawsuit also claims that, instead of declining transactions when an account had insufficient funds to cover a purchase, Chase authorized the transactions and then processed them in highest to lowest dollar order, which had the effect of increasing the number of overdraft fees the bank charged its customers.

Chase denies any wrongdoing but has agreed to a $110 million class action lawsuit settlement to resolve the litigation. Chase has also agreed that, for a period of at least two years, it will not charge overdraft fees on individual debit card transactions of $5.00 or less.

Class Members of the Chase overdraft fee class action settlement 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’s practice of posting debit card transactions from highest to lower dollar amount.

To be included in the Class, you must have had two or more overdraft fees on a single day during the time period listed above.

Some Class Members will automatically receive their payments from the Chase overdraft class action settlement, either as account credits (if you still have a Chase account) or in the form of a check (if you no longer have a Chase account). These “automatic” Class Members include all Chase accounts (except former BoNY accounts) who incurred an overdraft fee during the time period January 1, 2005 through March 29, 2010, and Chase accounts that formerly were BoNY accounts and incurred an overdraft fee between April 1, 2007 and March 29, 2010.

Other Class Members will need to file a Claim Form by the deadline of February 8, 2013 in order to receive a payment. These “non-automatic” Class Members include Chase account holders who incurred an overdraft fee between January 1, 2003 and December 31, 2004. It also includes holders of Chase accounts that formerly were Bank of New York accounts and incurred an overdraft fee from October 2, 2006 through April 1, 2007.

The amount of money you will receive from the Chase overdraft settlement will depend on the number of overdraft fees charged to your Chase account during the Class Period. Payments will be distributed after the Court grants final approval to the settlement and any appeals are resolved. A Final Approval Hearing is set for December 10, 2012.

Claim Forms and more information on your rights in the Chase Overdraft Fee Class Action Lawsuit Settlement can be found at www.ChaseOverdraftSettlement.com. Detailed claims filing instructions can be found in our Open Lawsuit Settlements section.

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90 thoughts onChase Overdraft Fee Class Action Settlement

  1. peggy leon says:

    Mi nombre es Peggy Lora mi marido y yo estamos aquí para dar testimonio acerca de cómo usamos Thomas Rossey tarjeta en blanco cajero automático para ganar dinero y también tenemos nuestro propio negocio hoy en día. Ir a buscar su tarjeta de cajero automático en blanco hoy y ser uno de los afortunados. Esta tarjeta de cajero automático en blanco programado es capaz de piratería informática en cualquier cajero automático, en cualquier parte del world.It ha cambiado realmente nuestra vida para bien y ahora podemos decir que somos ricos y que nunca puede ser pobre de nuevo. Puede retirar el máximo de $ 3,000 al día Podemos decir con orgullo nuestro negocio está haciendo muy bien y tenemos hasta 400.000,00 (400.000 dólares en nuestra cuenta) no es ilegal, no hay ningún riesgo de ser atrapados, ya que se ha programado en el de tal manera que no se puede rastrear, sino que también tiene una técnica que hace que sea imposible que el circuito cerrado de televisión para detectar you..For detalles y el costo sobre cómo conseguir el suyo hoy, los piratas informáticos correo electrónico en: hackercredit.atmcards@gmail.com)

  2. Linda Adalms says:

    Hola chicos !!! Yo tengo la mía de Thomas Rossey. Mi tarjeta de cajero automático en blanco puede retirar € 2.000 al día. Lo obtuve de él la semana pasada el miércoles y ahora tengo € 7,000 por libre. La tarjeta se retira dinero de cualquier cajeros automáticos y no hay ningún nombre en él, no es trazable y ahora tengo el dinero para la Navidad y el dinero suficiente para mí y mis 4 hijos. Estoy muy alegre me encontré con Jane porque me encontré con dos personas delante de ella y se llevaron a mi dinero no saber que eran estafas. Pero ahora estoy feliz. Jane envió la tarjeta a través de DHL y lo tengo en dos días. Conseguir uno de ella ahora. Véase está dando hacia fuera para ayudar a la gente, incluso si es ilegal, sino que ayuda mucho y nadie se ve atrapado. La tarjeta funciona en todos los países excepto Filipinas, Mali y Nigeria.Thomas dirección de correo electrónico es hackercredit.atmcards@gmail.com

  3. Tanya D. says:

    I received two checks in the mail that came to a grand total of, wait for it……$61 and some change. I banked with Chase for over 15 years and I know damn well that they have taken more money from me than that. I was no longer happy with Chase so I closed my account 4 years ago. Honestly, I wish we didn’t have to keep our money in banks, they are a total ripoff!!!

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  6. Marci says:

    Chase You Away Bank DESTROYED me with their overdraft fee scheme. They initially charged me hundreds of dollars in overdraft fees by holding some transactions and waiting until my account was overdrawn and putting tons of small transactions through at the same time. What should have been two fees turned in hundreds of dollars. I spend the next 18 months trying to catch up because I didn’t want to have the account closed and be reported to Checks Systems. What resulted was a financial disaster that caused me to end up paying $6,000 in fees over the 18-month period, very bad credit, and a financial mess that I still haven’t been able to dig myself out of. I eventually had to close the account and was reported to Checks Systems anyway. I was a Wa Mu account holder, and never had this problem with them. They processed things in order of when they were received, and I rarely got an overdraft fee. My compensation check, which came a couple days ago, was $21.95. What a slap in the face. I would have been better off keeping my money stuffed in a mattress. I always thought people who didn’t trust banks were ignorant. Now I think they are smart!

  7. Cyndy says:

    I have not received a penny from Chase. I know they took HUNDREDS from me over the years with this ‘scheme’ to steal from anyone who had an account with them. If any one of us DARED to STEAL from a bank the way Chase has STOLEN from all of us, we would be in jail! Now, they have been told to pay us back, and where is the money? In the lawyers’ pockets…we all have now been STOLEN FROM twice…I would even go so far as to suggest the lawyers have Chase a kickback from the money they stole! Just sucks…life in our country with the billionaires just becoming richer by the minute.

  8. William Banks says:

    $25.46…..thats what I got today. Thousands taken out of my account and that’s all they can do. I suggest everyone find a source to compain to. I have sent a Facebook message to WMAQ news off of Facebook may they can look into it. If several people complain we may not get any additional money, but we might get some satisfaction in at least trying to do something. I am a person who doesn’t complain about water running, I just turn off the water. A metaphore for………I am placing my complaint and then I am closing my account with Chase.

  9. lakayra says:

    Very disappointed on the amount of this check !.51. Really out of all the money taken from us we get a check that isn’t even enough to cover check cashing fee. I will be in contact with someone real soon

  10. Henn2012 says:

    Does anyone know how to check and see what you check amount will be?

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