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This settlement is closed!
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Banco Popular de Puerto Rico (BPPR), a Puerto Rican bank, agreed to pay $5.5 million as part of a class action lawsuit settlement to resolve claims it assessed illegal overdraft and NSF fees.
The settlement benefits current and former Banco Popular de Puerto Rico customers who were assessed retry/resubmitted overdraft and non-sufficient funds (NSF) fees between Feb. 1, 2016, and April 1, 2022.
BPPR is a bank that offers a range of financial services to consumers in Puerto Rico, the United States, the Caribbean and Latin America.
According to a class action lawsuit, BPPR violates U.S. law by charging unfair overdraft and NSF fees.
Plaintiffs in the bank fees class action lawsuit accuse BPPR of assessing multiple fees on single transactions and charging both NSF and overdraft fees on the same transaction. These practices allegedly cause consumers to pay a large sum in fees — on top of whatever their transactions cost.
“BPPR’s customers have been injured by the Bank’s improper practices to the tune of millions of dollars bilked from their accounts in violation of their agreements with BPPR,” the bank fee class action contends.
According to the complaint, BPPR’s practices violate its own account agreements. Account agreements allegedly fail to disclose the excessive fees charged by BPPR. Instead, the agreements promise to charge only a single NSF or overdraft fee per transaction, the plaintiffs claim.
BPPR hasn’t admitted any wrongdoing but agreed to a $5.5 million class action settlement to resolve these allegations over fees.
Under the terms of the BPPR fees settlement, class members can receive a cash payment based on the number of overdraft and NSF fees they were assessed by BPPR.
Class members who paid the highest number of fees will receive larger proportional shares of the settlement fund. No payment estimates are available.
Current customers will receive their share of the settlement fund as an account credit. Former customers without active BPPR accounts will receive their settlement payment as a check.
If any funds remain in the settlement after the first round of payments, a second round of payments may be sent to class members who accepted their first payments. Residual funds may instead be distributed to a charitable recipient approved by the court.
The deadline for exclusion and objection is Feb. 12, 2023.
The final approval hearing for the Banco Popular class action lawsuit settlement is scheduled for March 14, 2023.
No claim form is required to benefit from the settlement. Class members who do not exclude themselves will automatically receive settlement benefits as described above.
Who’s Eligible
Current and former Banco Popular de Puerto Rico customers who were assessed retry/resubmitted overdraft and non-sufficient funds (NSF) fees between Feb. 1, 2016, and April 1, 2022.
Potential Award
Varies
Proof of Purchase
No proof of purchase applicable
Exclusion Deadline
02/12/2023
Case Name
Soto, et al. v. Banco Popular de Puerto Rico, CaseNo. 3:20-CV-01057, in the U.S. District Court for the District of Puerto Rico
Final Hearing
03/14/2023
Settlement Website
Claims Administrator
Kroll Settlement Administration LLC
c/o Kroll Settlement Administration, LLC
PO Box 225391
New York, NY 10150-5391
833-709-0653
Class Counsel
David Indiano
INDIANO & WILLIAMS PSC
Jeffrey Kaliel
Sophia Goren Gold
KALIELGOLD PLLC
Defense Counsel
Maria D Trelles Hernandez
PIETRANTONI MÉNDEZ & ÁLVAREZ LLC
Mitchel H Kider
Michael Y Kieval
WEINER BRODSKY KIDER PC
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112 thoughts onBanco Popular de Puerto Rico (BPPR) NSF fees $5.5M class action settlement
Yo creo k esto es una falta de respeto a nosotros los consumidores. Fueron muchas las veces k me cobraron y ahora me deposita 8 dólares, de verdad k dios los bendiga. El grande está mirando. Dios.
Cierto es una burla y una falta de respeto,salieron favorecidos los abogados y el pillo Banco
Mi gente eso es desde 2016 al 2022 no son $15 son más
Solamente depositaron $21.00 ,tanto que le ha robado a uno con cargos el Banco Popular para esta porquería.
Lo curioso es que a mas nadie le han depositado nada 🤨
A mi me depositaron $8.38 también me di cuenta en la mañana. Pero entiendo que esto es una burla
Si que esto es una falta de respeto a la gente y los abogados cojieron si tajada grande.Ni publicaron el tipo de fórmula a utilizar,favoreciendo al pillo Banco Popular
Es una burla,favorecieron a los pillos del Banco Popular y los abogados con bolsillos llenos
Esto es injusto… BPPR cobraba $15 por sobregiro y le dan $4 a una persona😡😡😡 todo se lo ganaron los abogados del caso
Diantre 4.30. Mas que eso le cobraron por el sobregiro, no entiendo esta formula de los abogados. La hicieron para beneficio de ellos pero no de los clientes.
Los abogados se llevaron tajada grande y donde está esa supuesta fórmula para pagar,a todos nos han robado dinero con cargos exagerados
Saludos, me enteré de la demanda por un depósito de 4.30 dolares en mi cuenta del BPPR, hoy 8 de junio 2023.
Wow😳 ni para un combo🤦🏻
Todo dependera de las veces que se haya sobregirado y la cantidad de sobregiro.
SALUDOS MI GENTE LO DE LA CARTA FUE UNA MENTIRA PARA TRATAR DE DARME UNA EXPLICACION PQ NADIE EN BANCO POPULAR SABE NADA
Y LO Q LE DIJERON A LA SEñORA DE LOS 4 DOLARES ESO SERIA EN EL CASO DE ELLA O ES PARA TODOS, PQ A NO TODOS LES PASO LO MISMO A MI ME PASO MUCHAS VECES.
Wao , wao
Hable con el represente de los abogados y me indicó q depositan el 13 de de junio y me dijo q me depositarán 37 dolares. No llegué ni a 50 dolares
En serio? 😳 tanta espera para esa basura…
Más que eso se tumba el Banco Popular con los cargos