Fifth Third Bank Business Checking Account Fees Settlement

Fifth Third Bank has agreed to settle a class action lawsuit alleging that it failed to disclose to some business checking account holders that it was charging certain fees and/or increasing the amount of certain fees that were already being charged.

Plaintiff Arlington Video Productions Inc. filed the class action lawsuit against Fifth Third Bank, alleging that fees charged to certain business checking accounts were not properly identified in the Rules & Regulations Fifth Third provided to its business checking account holders.

According to the class action lawsuit, Fifth Third either did not disclose the existence of the fee in the Rules & Regulations or that it increased the amount of the fee that was listed in the Rules & Regulations without disclosing the increase to the business checking account holders.

Fifth Third Bank denies any wrongdoing but agreed to settle the class action lawsuit to avoid the expense and uncertainty of ongoing litigation.

The Fifth Third Bank class action settlement was preliminarily approved on Sept. 23, 2015. Class Members who wish to exclude their businesses from the settlement must do so no later than Nov. 30, 2015.

Who’s Eligible

Your business is a member of the Settlement Class if:

• Your business had one or more business checking accounts with Fifth Third in the United States at any time between Dec. 1, 2002 through Feb. 28, 2013; and
• Your business incurred a non-negotiated fee that was either (1) not initially disclosed in the Rules & Regulations’ Fee Schedule, or (2) increased from the amount listed in the Rules & Regulations’ Fee Schedule without 15-days advanced notice of the increase.

Potential Award

Fifth Third Bank has agreed to establish a class action settlement fund of more than $1.8 million. The amount each Class Member is eligible to receive is unknown at this time. However, the payment will be based on the number of Settlement Class Members and the amount of the allegedly improper fees that were charged to each business checking account.

Proof of Purchase

N/A. Class Members who do not opt out of the settlement will automatically receive a payment once the class action settlement becomes final.

Claim Form Deadline

N/A. Settlement Class Members do not need to submit a claim to be eligible for benefits from the Fifth Third Bank settlement. Class Members who do not opt out of the settlement will automatically receive a payment once the class action settlement becomes final.

Case Name

Arlington Video Productions Inc. v. Fifth Third Bank, Case No. 2:08-cv-122, in the U.S. District Court for the Southern District of Ohio

Final Hearing

12/16/2015

Settlement Website

www.AVPLawsuit.com

Claims Administrator

AVP Settlement Administrator
P.O. Box 2374
Faribault, MN 55021-9074
1-866-590-8523

Class Counsel

MURRAY & MURRAY CO. LPA

Defense Counsel

VORYS SATER SEYMOUR & PEASE LLP