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Update: BancorpSouth Overdraft Fee Settlement Delayed

By Kimberly Mirando

 

BancorpSouth Overdraft Settlement

 

UPDATE: The BancorpSouth Overdraft Class Action Settlement has been terminated and the lawsuit dismissed.

 

Recent court orders in the BancorpSouth overdraft fee class action lawsuit settlement have delayed the claims filing process. As a result, Class Members that missed the September 13, 2012 deadline to file a claim may have the opportunity to have the deadline extended.


BancorpSouth reached a $1.75 million class action lawsuit settlement earlier this year to resolve allegations it improperly charged overdraft fees to checking customers by resequencing transaction to maximize the number of fees it could charge.

Class Members had until September 13, 2012 to file a claim to receive a refund from the BancorpSouth overdraft class action settlement. However, a new update on the Settlement Administrator’s website shows a recent court order has stalled the process.

According to the Settlement Administrator:

Recently, a court order was entered by another federal court that appears to be the subject of an appeal. Until the order and appeal are resolved, the process of assisting class members in retrieving bank statements is on hold. Additionally, Epiq, as the Claims Administrator, will not be able to assist settlement class members in answering questions or assisting them in the filing of claims at this time. As additional information is received, court appointed Class Counsel, Emerson Poynter LLP, will ensure that additional information is provided here. For these reasons, the time deadlines on the left-hand side of this page may be extended as well.

The alleged appeal is bad news for those Class Members that filed a claim and are awaiting payment, but is good news for those who missed the deadline as they may have another opportunity to file.

Keep checking Top Class Actions for updates on the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement as they unfold.

Special thanks to Top Class Actions reader “Patricia” for alerting us to the settlement update.

 

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Updated December 17th, 2012

 

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13 Comments

  • Anonymous December 4, 2012

    Just checked their website and this has been DISMISSED! I’d like to know their reasoning – BCS definately reorders their transactions to increase fees. I stopped using them years ago because of this. I made a mistake which ran into a weekend. When I questioned why larger Sunday transactions were processed before smaller Friday ones their reply was, “That’s the way we do it.” This makes me mad!

  • Anonymous December 7, 2012

    Makes me MAD! they got me for 400 over 1 yr… in over draft charges, because they closed for snow i deposited after 4, so many reason especially the weekend dealings, gonna close my account if this doesn’t pan out, and the website says they dismissed it so I guess thats that… I am so going to trustmark…
    after 20 yrs….

  • Southasom Wilson January 7, 2013

    I would like to know information about the settlement please. here is my address: 1500 S.Memphis #7, Fort Smith, AR 72901

  • Amanda Taylor January 14, 2013

    so if we filed our claim before the deadline our claim was dissmised? if that is thats a bunch of bull i lost 1000 in one year not includeing other years. what can i do if my claim was dissmissed i want my money

  • sarah January 15, 2013

    I have been a loyal customer for years but me and several others I know will be going elsewhere.

  • Charlotte February 8, 2013

    I am still dealing with overdraft charges. You have to provide the time you made the deposit but they cannot tell you what time the overdraft fee was applied although there were no pending debit transactions when I made my deposit. One day I made 3 deposits because they charge me an overdraft fee before they added my deposits. Just today I made a deposit of $480 at 8:31 AM. I checked my account 10 minutes later, no problem; 2 hours later, no problem; 4 hours later, overdraft fee. Time for a change.

  • Brad March 1, 2013

    So where does this stand for those that did not file a claim. I wonder if a new action will be filed? If so how will we know?

  • Tammy March 28, 2013

    Once again they bought a judge to dismiss it after it was already awarded. so we get notta… if we all closed our accounts EVERYONE who was invloved they would look at it again. truely sickening… i have got to go else where and soon,,,,

  • Paula April 16, 2013

    Would someone please explain how all other banks have been caught doing exactly what BCS was doing, they are having to pay why and how did BCS get their action dismissed? Why were we as class action participants not notified and given the option to fight the dismissal. I failed a claim timely and had to read on the internet that it was dismissed what happen to our rights? Can any other action be filed against BCS this is not fair we should have had rights too! But as usual we are the little people and the bank has the power? Please someone explain how and why this claim was dismissed???

  • Paula April 16, 2013

    Who can we contact about our rights and the fact we were not notified of this action until after the fact?

    • edna March 14, 2014

      I like all of you was duked. I received a letter telling me I did not qualify for this payment in which they took the highest to the lowest that created an overdraft in the first place on my account. Bookkeeping is recorded on that date, if you try this in your own business you’ll go to jail for stealing. This is the same as stealing. This is why direct deposit came along people had a choice of a check or banks. Banks gave away gifts for your business not any more they know you don’t have much of a choice. A theft comes in may forms

  • cynthia hobbs March 25, 2014

    Jus want to know why we were not notified that the lawsuit was dismissed. That is so not fair to the customers..

  • flor October 23, 2014

    Bancorp south is crooks. They just charged me overdrafts.I had money in there to cover small debits. I asked them why they didn’t pay small debits because they came out on same day.they said they send largest thru first. I tried to get them to refund my money because it was a unauthorized charge from Adt. They refuse and said adt would have to pay for overdraft since they caused it. I going to find a different bank.

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