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Associated Bank Overdraft Settlement Refunds Go Out Wednesday
By Sarah Pierce
Some Associated Bank customers will have a little extra money in their bank accounts this Wednesday, thanks to a class action lawsuit settlement approved earlier this summer.
Top Class Actions confirmed with Class Counsel today that payments from the Associated Bank overdraft settlement will be deposited into eligible Class Members’ accounts on October 9. Former account holders who submitted valid claims will receive their credit via a mailed check.
The money is part of a class action lawsuit settlement approved in August by U.S. District Judge James Lawrence King, which resolves allegations the bank manipulated customers’ checking account transactions in order to trigger overdraft fees. Plaintiffs in the class action lawsuit also alleged that Associated Bank chose not to decline transactions that would incur an overdraft fee and failed to adequately disclose to customers that they could opt out of overdraft protection.
Associated Bank denies the allegations but agreed to compensate customers in order to resolve the litigation
Class Members of the Associated Bank overdraft class action settlement included all current and former customers who had a consumer deposit account between 2000 and 2012, depending upon what state the account was opened in, and who were charged one or more overdraft fees as a result of the bank’s alleged practice of posting debit card transactions from highest to lowest dollar amount.
There was no claims filing process; Class Members will automatically receive a cash award credited to their account (if they’re a current customer) or mailed to them as long as they did not opt out. The amount of the payment will depend on a number of factors, including how many overdraft fees were incurred and how many Class Members remained in the settlement.
Congratulations to our Top Class Actions readers who receive a cash award! We’ve been reporting on the Associated Bank overdraft class action settlement since 2011, so we’d love to hear how much money you received in the comments section below.
The case is In Re: Checking Account Overdraft Litigation, Case No. 09-cv-02036, U.S. District Court, Southern District of Florida.
More information on the Associated Bank Overdraft Class Action Settlement can be found at the Settlement Administrator’s website: www.ABOverdraftSettlement.com.
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
34 thoughts onAssociated Bank Overdraft Settlement Refunds Go Out Wednesday
Erin…if you had read thru all the info it tells you that if you have moved and have a dif address then what was on the original acct they would either send a check to last known address on file or you could contact the Settlement Administrator w/your new address and a check would be sent there…here is the address that I sent my change address to…I sent my certified letter and got a response back that they had received it….
Settlement
Administrator
at
AB Overdraft
Settlement…
P.O.Box
4259
Portland,
OR
97208-4259
I only received 29.00 on a 500.00 overdraft…20.00 was the overdraft and the rest were the fees because I didn’t have the money to bring the acct currant and charged me the original 35.00 fee and 7.00 a day after 7 days overdrafted…
I had an account thru Associated for years, until I switched over to US Bank a few years ago. Since then have also moved several times…would this be the reason I have not recieved a refund check on the many overdraft charges I had? Where or who do I call to get some of this money?
the service awards where for the ppl that brought the suit and helped in the law suit…the rest are considered the class members..
So what happened to the $5000 “service award” per person?
I would love to know where it went also. I received $7.53. They could have atleast gave back one of the many many fees paid over the years. I was with them for 10 years and they wouldn’t give me a 500 loan. Went to a CU and got a 10k loan!!
I received my check for a huge $118.82. Just a small fraction of what I gave to them over 10 years.
I finally received my check and all I got was $27.00, I know they recvd way more than that on overdrafts from me, I would like to know where the majority of the money went because it definetly isnt going to the people who it effected most
Rob…I have the same thing…if you go to the main website http://www.aboverdraftsettlement.com/ and go to fAQ they have added more questions and answers…basically it states that if you haven’t recieved a bank credit or check by the 9th …the reason is that the acct has been closed due to .Insufficient funds….I paid my over draft charges and closed that checking acct and went back to a savings..and I notified the settlement administrator in a letter of a change in address and included the affected acct and the new acct…I have the bank statements to prove it…but I don’t have the ending statement…called my local branch and she said because of updates to system she doubted that i can get it for that acct…so basically I’m SOL…the attorneys for the suit are as crooked as the bank…
this is bullshit, i recieved the notice last year that i was included in the lawsuit and i still have an account with this crooked azz bank, and no direct deposit or check in the mail, i hope the lawyers chock on there cut
Guess i should have been a lawyer!