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This settlement is closed!
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Checking account holders have secured a $24.5 million settlement resolving a Navy Federal Credit Union overdraft fees class action lawsuit.
Class Members include Navy Federal Credit Union checking account holders who were charged overdraft fees under the credit union’s Optional Overdraft Protection Service between July 22, 2012 and Nov. 20, 2017.
The transaction that assessed the fee must have been authorized into a positive available balance.
Navy Federal Credit Union overdraft fees are unfair and unconscionable, according to a class action lawsuit lodged by Jenna Lloyd and Jamie Plemons. The plaintiffs alleged that the credit union assessed fees on debit card transactions deceptively.
According to the class action lawsuit, Navy Federal Credit Union would sequester checking account funds when members used their debit cards to cover the transaction, but would “hold” the amount until debiting for the purchase at a later time.
The credit union would then allegedly debit the amount for the transaction, but would, in essence, charge twice — leading consumers into a negative balance and assessing an overdraft fee.
The plaintiffs claimed that the Consumer Financial Protection Bureau has labeled this practice deceptive. Further, the Navy Federal Credit Union class action states that the company violated its own contractual agreements when it assessed overdraft fees in this manner.
According to the class action lawsuit, Navy Federal Credit Union overdraft fees are a way to bilk more money from consumers.
Under the terms of the settlement agreement, Navy Federal Credit Union has agreed to pay $24.5 million which will be used as account credits or payments to Class Members.
Class Members do not need to file a claim to obtain a payment or account credit; if the Navy Federal Credit Union overdraft fees class action settlement is approved, payment will be sent automatically to Class Members.
Class Members who wish to object to or exclude themselves from the Navy Federal Credit Union overdraft fees class action settlement must do so by April 20, 2019.
Who’s Eligible
Class Members include those who “had a Navy Federal checking Account and were charged Overdraft Fees under Navy Federal’s Optional Overdraft Protection Service (OOPS) on transactions that were authorized into a positive available balance between July 22, 2012, through November 20, 2017, excluding members who enrolled in OOPS for the first time after February 13, 2017.”
Potential Award
The settlement agreement indicates that the Account Credits or payments to Class Members cannot be determined at this time. Payouts will depend on the number of overdraft fees charged to each Class Member.
Proof of Purchase
None required. Class Members will be automatically enrolled in this settlement.
FAQs
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
N/A – the deadline to object to or opt out is 04/20/2019
Case Name
Jenna Lloyd, et al. v. Navy Federal Credit Union, Case No. 17-cv-1280, in the U.S. District Court for the Southern District of California
Final Hearing
05/20/2019
UPDATE: The Navy Federal Credit Union Overdraft Fees Class Action Settlement was granted final approval on May 28, 2019. Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
Settlement Website
Claims Administrator
Navy Federal Overdraft
Settlement Administrator – Epiq
P.O. Box 3230
Portland, OR 97208-3230
1-877-393-1060
Class Counsel
Jeff Ostrow
Jonathan Streisfeld
KOPELOWITZ OSTROW PA
Taras Kick
THE KICK LAW FIRM APC
Hassan Zavareei
Andrea Gold
TYCKO & ZAVAREEI LLP
Richard D. McCune
McCUNE WRIGHT AREVALO LLP
Defense Counsel
Neil Gilman
HUNTON ANDREWS KURTH LLP
If you were charged unfair overdraft fees by your bank or credit union, 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.
Fill out the form on this page now for a free, immediate, and confidential case evaluation.
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129 thoughts onNavy Federal Credit Union Overdraft Fees Class Action Settlement
$30 in GA
Received our checks today
It’s real
I have to picked mine up at the PO box, just curious, how much did you receive?
Six dollars
I just check my mail the check came yesterday $766.
i called one of the class lawyers. they said checks will be mailed out around the end of august. has anyone with a closed account received paper check yet?
Not me not yet
Thanks for that information. I’ve been wondering when the paper checks would be sent out.
Has anyone received a paper check yet?
They sent the checks out on the 29 any day now!!!!
Well Tuesday should be the day
Anyone get there check yet?
No but my account is closed so I’m wondering if we are still going to get our money
Yes they sent all closed a account checks out on the thirsday
I have been a member with navy since like 2012 or 2013 and have always had overdraft and have almost always used it every month, on two separate checking accounts until one case it overlapped so there was a possitive balance for a short time like 17 hours, but the system didn’t recognize it so it put me over the 30 day limit and closed that account which I had to pay off with payments, and I still don’t have my oops back on my 2nd account. I have received nothing. I have had issues with their prepaid credit card terms and fees whatnot that I am still paying off unjust fees from the closed prepaid card.
I received my settlement of $50. It should have been way more but NFCU won’t tell me anything and keep referring to an automated line that doesn’t give me much information.
Lawyers, of course, gets the majority of the monies won, a certain huge percentage, then the two main plaintiffs get the other huge portion of the overall settlement, and only AFTER they get the bulk, the few little fund, or crumbs, go to the rest – as far as I understand how Class Actions work!
Looks like I got my settlement. A whole $63. I know I hot charged way more in fees than that. Yet the lawyers got six million? Oh well it is what is.
From the dates indicated I had a couple thousand dollars worth of overdraft charges and I also have 2 checking accounts. Yesterday I got a “settlement” of $18.98 in one account , I got nothing in the second account , this has to be a joke.
That’s what I said.
Agreed, they still do this day charge stuff on my account out of order so they can make more money in overdrafts.
Me too. I was better off doing my own lawsuit!
I want to know how the funds were determined. I questioned this over the years and would call and say my account didn’t add up…the charges we be on hold forever my direct deposit would hit and they would wait and it would send me into overdrafts I received $37 like really. I had no idea until last week what this was about.
I got my settlement today!
I got my settlement 08/05/2019.