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On June 9, 2014, U.S. District Judge James Lawrence King granted final approval to a $14.58 million class action settlement over allegations Comerica Bank NA charged improper overdraft fees between 2004 and 2010. According to an update from the Settlement Administrator, if no appeals are filed, payments will be mailed to qualifying Class Members or credited to their Comerica bank accounts no sooner than Oct. 15, 2014.
The Comerica overdraft settlement resolves a consolidated class action lawsuit alleging Comerica posted debit card transactions in the order of highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. The Comerica class action lawsuit claims that, instead of declining transactions when the customer had insufficient funds to cover the purchases, Comerica authorized the transactions and processed them in highest to lowest dollar order, increasing the number of overdraft fees charged to the customer.
Comerica Bank denies there was anything wrong with the posting process it used but has agreed to settle the class action lawsuit to avoid the uncertainty and expense of trial.
Class Members of the Comerica overdraft class action settlement 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’s non-consecutive posting of transactions between 2004 and 2010. The specific Class Period varies by state.
For Class Members who opened accounts in Arizona or Michigan, the Class Period is from Feb. 18, 2004 through Aug. 15, 2010. For Class Members who opened accounts in California or Texas, the Class Period is from Feb. 18, 2006 through Aug. 15, 2010. For Class Members who opened accounts in Florida, the Class Period is from Feb. 18, 2005 through Aug. 15, 2010.
The potential award Class Members are eligible to receive is based on how many overdraft fees they incurred during the applicable Class Period.
There is no Claim Form deadline associated with the Comerica overdraft class action settlement. Class Members will automatically receive an account credit or check if no appeals are filed. You can visit our Comerica Bank overdraft settlement page or the Comerica Bank overdraft settlement website for more information.
Class Members are represented by Bruce S. Rogow of Bruce S. Rogow PA, Aaron S. Podhurst of Podhurst Orseck PA, Robert C. Gilbert of Grossman Roth PA, and Russell W. Budd of Baron & Budd.
The Comerica Bank Overdraft Class Action Lawsuit 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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