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Associated Bank Reaches Overdraft Fee Class Action Settlement
By Matt O’Donnell
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UPDATE 2: Payments in the Associated Bank overdraft settlement will go out October 9, 2013.
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UPDATE 1: A federal judge approved the Associated Bank overdraft class action lawsuit settlement on August 2, 2013.
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Associated Bank is the latest bank to reach a class action lawsuit settlement over charges it manipulated customers’ debit card transactions and checking account deposits so it could deplete their accounts and trigger overdraft fees.Â
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According to the Associated Bank overdraft fee class action lawsuit, Associated Bank charged debit card users an overdraft fee of $37, regardless of the amount of the overdraft, and chose not to decline the transaction that would trigger the overdraft or inform customers that they were short of funds. The bank is also accused of failing to adequately disclose to its customers that they could opt out of overdraft protection.
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Associated Bank is one of more than 30 banks accused in the multi-jurisdicational class action lawsuit, later consolidated in Florida federal court, of the overdraft fee violations. The case is In Re: Checking Account Overdraft Litigation.
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Associated Bank agreed to pay $13 million to settle its part in the bank overdraft fee class action litigation. Several other major banks, including Union Bank and Bank of America, have also reached class action settlements.
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The Associated Bank overdraft fee class action settlement still needs final court approval before it becomes effective.
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The case is In Re: Checking Account Overdraft Litigation, Case No. 09-cv-02036, U.S. District Court, Southern District of Florida.
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66 thoughts onAssociated Bank Reaches Overdraft Fee Class Action Settlement
Any word when our money is coming
Any word on when we’re getting our money. its April 11th now.
what do you mean a card i got a letter saying i was part of the settlement…is that what you mean…and do we have to do anything ..what does opt mean ..thanks
i was screwed by this problem for over 2.5 years!! i finnally decided to change banks! im glad they have to pay us back! it was a big ass hassel!! i no the case is set for 3-13-2013 so when do we hear back from it?
all good things come to those who wait
What can I do to be included in this? Is it automatically done?
how and when do we get the money?
i was charged quite a bit over the last few years because of this problem… i know i should receive a good amount back. How and when do we get our money?
I also recieved the card along with several friends and family members. There is nothing you have to do. No calls to make. If you recieved the card it states right on the card you are part of the Class Action Law Suite. Its going to be finalized in March then we will get a check. The money will be divided according to the number of people who got the checks and the amounts that were taken in over drafts.
i receive this card too about the lawsuit and yes im a victim of that bank i call that 1800 number, but its not saying anything, and i need to know who and what i need to do. so if anyone are also in this situation, and is or are a victim of this bank, please let me know my number is 872-203-9372, thankyou