MidFlorida Credit Union Overdraft Fee Class Action Settlement

A near $2.4 million class action settlement will benefit certain members of MidFlorida Credit Union who were charged allegedly improper overdraft fees.

Payments will be distributed automatically to Class Members. Those who are no longer MidFlorida Credit Union members may want to update their mailing address with the settlement administrator to ensure they receive their check.

Plaintiff Tracy Fry filed this action against defendant MidFlorida Credit Union in November 2015. Fry claims the credit union assessed improper overdraft fees against its members based on those members’ available balance, rather than their actual or ledger balance. This practice allegedly resulted in more transactions qualifying for overdraft fees than would have qualified if the credit union based them on the ledger balance.

Fry alleges this practice violated Florida’s Deceptive and Unfair Trade Practices Act. She also raises claims for breach of contract, negligence, unjust enrichment and restitution, money had and received, and violation of the Electronic Fund Transfer Act.

The parties agreed to the current MidFlorida Credit Union settlement following a March 2017 mediation session. The settlement requires MidFlorida Credit Union to create a settlement fund worth $2,375,000.

The fund will be used to cover a service award for Fry, court costs, attorneys’ fees, and the costs of administering the settlement. The rest of the fund will be distributed among Class Members according to the number of eligible overdraft fees they paid.

MidFlorida has also made changes to its overdraft practices effective Jan. 15, 2016. The credit union now assesses overdraft fees based on the member’s ledger or actual balance at the time the transaction is presented for payment. Member disclosures have been modified to reflect the new practices.

Class Members do not need to file a claim to receive payment. Those who are current members of MidFlorida Credit Union will receive a credit applied to their checking account. Those who are no longer members will be mailed a check at their last known mailing address. Class Members whose addresses have changed can update their information by contacting the settlement administrator.

MidFlorida Credit Union does not admit any liability by entering into the settlement. The credit union says it agreed to the settlement in the interest of avoiding the risk and expense involved in prolonging the litigation.

Class Members can exclude themselves from the settlement by submitting a written exclusion request by Dec. 11, 2017. Objections to the settlement must be filed by Jan. 29, 2018.

Who’s Eligible

Class Members include all members of MidFlorida Credit Union who, between Nov. 24, 2010 and Jan. 15, 2016, were assessed an overdraft fee when the member’s ledger balance was adequate to cover the transaction but their available balance was not.

Potential Award

TBD

Individual payments will be determined after other costs related to the settlement have been covered.

Proof of Purchase

No proof of purchase or other documentation is necessary to receive settlement benefits.

Frequently Asked Questions

FREQUENTLY ASKED QUESTIONS »

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.

Exclusion Deadline

12/11/2017

Case Name

Fry v. MidFlorida Credit Union, Case No. 8:15-cv-2743-RAL-TGW, in the U.S. District Court for the Middle District of Florida

Final Hearing

2/23/2018

UPDATE: On February 23, 2018, the MidFlorida Credit Union Overdraft Fee Class Action Settlement was granted final approval by the court. Let Top Class Actions know when you receive a check in the comments section below or on our  Facebook page.

Settlement Website

www.MidFloridaCreditUnionOverdraftClassAction.com

Claims Administrator

Fry v. MidFlorida Credit Union Claims Administrator
c/o Kurtzman Carson Consultants
P.O. Box 404000
Louisville KY, 40233-4000
(866) 232-2512
info@MidFloridaCreditUnionOverdraftClassAction.com

Class Counsel

Richard D. McCune
Jae K. Kim
McCUNE WRIGHT ALEVARO LLP

Taras Kick
THE KICK LAW FIRM APC

Defense Counsel

Stuart M. Richter
Andrew J. Demko
KATTEN MUCHIN ROSENMAN LLP

Join a Free Bank and Credit Union Overdraft Fee Class Action Lawsuit Investigation

If you are a Capital One or HSBC Bank customer and you were charged overdraft fees, you could be eligible to participate in a FREE class action lawsuit investigation. If you qualify, an attorney will contact you to discuss the details of your potential case at no charge to you.

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