Landmark Credit Union Overdraft Fees Class Action Settlement

An overdraft fees settlement has been reached and is now open for consumers who were charged overdraft fees by Landmark Credit Union.

If you incurred an overdraft fee on your Landmark Credit Union account between Feb. 9, 2011 and Feb. 28, 2017, you may be eligible to participate in the Landmark Credit Union overdraft fees settlement.

The Landmark class action lawsuit alleged that the credit union did not properly opt their members into an overdraft protection program and charged unfair overdraft fees. The fees were allegedly charged when members had available ledger balance, but did not have available balance in their checking accounts.

“LCU’s policy and practice is to ignore whether there is money in the account or a negative balance. Instead, LCU’s policy and practice is, and at all times relevant herein has been, to assess overdraft fees based on an artificial internal calculation called the available-balance method rather than the ledger-balance method,” the class action lawsuit claimed.

Although Landmark has denied their policies are in violation of consumer agreements, the parties reached a preliminary settlement agreement recently. Landmark Credit Union has agreed to create a $950,000 settlement fund to compensation eligible consumers for wrongfully charged overdraft fees. Most consumers are not required to fill out a Claim Form, but certain Class Members have been mailed a Claim Form if they have eligible debit card or ATM transactions. These consumers can claim up to 10 overdraft fees on eligible debit card or ATM transactions.

Eligible consumers have until Aug. 15, 2018 to exclude themselves from the settlement fund, and the final hearing date in Aug. 30, 2018.

Who’s Eligible

Class Members include Landmark Credit Union account holders who were assessed at least one extended overdraft charge that was not refunded, between Feb. 9, 2011 and Feb. 28, 2017.

Potential Award

Varies.

Class Members can make a claim for up to 10 of the ATM and debit card overdraft fees listed on their Claim Form, which will be paid from one-half of the Net Settlement Fund on a pro rata basis. The remaining funds from the Net Settlement Fund will be disbursed on a pro rata basis to Class Members who were assessed Overdraft Fees for payments made when they had enough ledger balance in their checking accounts to cover the transaction that caused the fee.

The amount of the award will depend on the number of overdraft fee charges they paid and the total number of Class Members who are eligible for benefits from the Landmark overdraft fee settlement.

Proof of Purchase

Your claim will be verified by your account transactions with Landmark Credit Union.

Claim Form

Some Class Members will be required to submit a Claim Form, while others will not. [Note: the Claim Form is not available online. It will be mailed to eligible Class Members.]

If you were mailed a settlement noticed containing a Claim Form, and it indicates you had Overdraft Fees from ATM and debit card transactions, then you should fill out the Claim Form and send it to the Administrator no later than August 15, 2018.

If you received the Notice but there is no Claim Form attached, then you will still be entitled to receive a payment, without having to make a claim, for Overdraft Fees assessed when you had a positive ledger balance in your account that was sufficient to pay the transaction that resulted in the fee (so long as you do not opt out). However, if you are eligible to make a claim, then you may receive more if you fill out and submit the 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 Deadline

8/15/2018

Case Name

Danell Behrens v. Landmark Credit Union et al., Case No. 3:17-cv-00101-jdp, in the United States District Court for the Western District of Wisconsin.

Final Hearing

8/30/2018

UPDATE: The Landmark Credit Union Overdraft Fees Class Action Settlement was granted final approval on September 11, 2018. Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.

Settlement Website

www.landmarkcreditunionoverdraftfeessettlement.com

Claims Administrator

Behrens v Landmark Credit Union

C/O GCG

P.O. Box 10600

Dublin, Ohio 43017-9202

Class Counsel

Richard D. McCune

Jae (Eddie) K. Kim

MCCUNE WRIGHT ALEVARO LLP

Taras Kick

THE KICK LAW FIRM, APC

Defense Counsel

Stuart M. Richter

KATTEN MUCHIN ROSENMAN LLP