$4.5M Cadence Bank overdraft fees class action settlement

Cadence Bank agreed to a $4.5 million class action lawsuit settlement to resolve claims it allegedly charged unfair overdraft fees on debit card transactions.

The Cadence Bank settlement benefits consumers who were charged an “APSN Fee” by Cadence Bank between Jan. 11, 2019, and Nov. 15, 2023. 

According to the Cadence Bank overdraft fees class action lawsuit, Cadence Bank charged unfair overdraft fees on debit card transactions. These fees were allegedly charged even though the transactions were initiated with a positive balance.

Cadence Bank is a regional bank with over 400 locations in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and the Midwest. Cadence Bank has not admitted any wrongdoing but agreed to a $4.5 million class action settlement to resolve these allegations.

Under the terms of the Cadence Bank settlement, class members can receive a proportional share of the net settlement fund based on the amount they paid in APSN fees during the class period. If a class member, for instance, paid $1,000 in fees, they would receive twice as much as a class member who paid $500.

In addition to cash payments, the bank also agreed to forgive up to $682,000 in unpaid APSN fees, bringing the total settlement value to $5,182,000.

In a separate class action case, claimants allege that Cadence Bank overcharged with ATM withdrawal fees.

The deadline for exclusion and objection is March 17, 2025.

The final approval hearing for the Cadence Bank overdraft fees class action settlement is scheduled for May 9, 2025.

If you received notification via email or a postcard, you are by default a class member and will automatically receive a settlement payment unless you exclude yourself.

Who’s Eligible

Consumers who were charged an APSN fee by Cadence Bank between Jan. 11, 2019, and Nov. 15, 2023.

Potential Award

Varies based on a percentage of the amount of APSN Fees paid.

Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

There is no claim filing deadline. Class members are automatically included unless they opt out.

Case Name

Self v. Cadence Bank, Case No. 4:24-cv-00142-LPR, in the United States District Court for the Eastern District of Arkansas

Final Hearing

05/09/2025

Settlement Website

SelfBankFeesSettlement.com

Claims Administrator

P.O. Box 301130
Los Angeles, CA 90030-1130
[email protected]
888-726-1319

Class Counsel

Lynn A. Toops
COHEN & MALAD LLP

Randall K. Pulliam
CARNEY BATES & PULLIAM PLLC

Defense Counsel

Austin Brown
J. Trumon Phillips
David Koehler
Isabelle Ord
Michael Essiaw
DLA PIPER LLP (US)