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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
I received a check for less than $7.If I had known this I would have opt out . I can’t believe out of $13 million this is all I got. The lawyers got rich again.Wasn’t it the customers that got charged overdraft fees? Why didn’t we get more money? This is bullshit. I will spend more in gas going to the bank. They used us
I received a check for a whopping $6.76. Looks like the attorneys made out well and once again, as it seems to be in all matters as of late, the little guy gets screwed. They did the same thing to the people involved in class action suits regarding mortgage scams. The bank admits no wrong doing, the lawyers get rich and the victims receive little to nothing in compensation. This was a 13 MILLION DOLLAR settlement and I received LESS THAN $7.00! Had I known this was to be the result, I would have opted out of being part of this suit. At least then I would have not been used as a pawn so the attorneys could get rich at my expense. So sick of it all!
Is there a number to call to see what is being issued? I recieved one check for a small amount but expected bigger- had more than one account. Today in the mail it looks like I had a letter that was tampered with. it was identical to the last envelope but had nothing in it.
I would appreciate any help you could give me!
It looks like a got a check bu tsomeone opened my mail in the mailbox and took whatever was inside. How do I find out if this was the supposed “check”
Years back I was with associated, I got screwed over with bogus overdrafts that took most of my paycheck each month. I closed the account and went to a credit union. After closing the account I still received additional overdrafts. Received a $27.07 check yesterday, and it does not come close to what they took.
Got $50 something a few weeks ago. Didn’t cash it yet. Got another one today for just over $200. Going to wait a few weeks and see if I get more.
I,m still waiting.Emailed lawyer a few times. They tried to deposit $6.67 into my acct. Now I,m waiting on a check. This is crazy, all of the $35 over draft fees I payed.I agree with abdiel. They do owe us an explanation.
Got $29.68 total. Extremely disappointed and feel that its inappropriate considering AB has taking hundreds from me due to unfair overdraft fees and they charge $35 for each. I definitely feel that AB owes us an explanation for the considerably low amounts deposited. If they’re not going to pay us exactly what they took then they atleast owe us a clear, truthful explanation as to why.
On Oct 8, 2013 I noted a deposit of $79.24 (in two transactions) into my Associated Bank checking account as part of the overdraft class action settlement – equivalent to just over 2 overdrafts.
Got a check for 39.95