Associated Bank Reaches Overdraft Fee Class Action Settlement
By Matt O’Donnell
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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
it is now June 7,2013…does anyone have any idea what is going on w/this settlement…I still have an acct w/Associated bank but it’s not the same acct that was overdrafted…also I have moved recently and it says in the info if we move to notify the settlement administrator…I have gone all over the documents and can’t fine who to contact…I have changed my address w/my acct…will that be enough…I also called the 800# that was listed above..but it is no longer in use……Somebody anybody have any info….
We actually received a letter in the mail that said it would be between 4 – 8 weeks to receive either a check, if your account was closed, or a credit to your account if still open.
It has now been 10 weeks since we received that letter. Another Lawsuit in the making??????
The doorknobs at Associated Bank couldn’t even state if I got a credit to my account. I know that I didn’t pay all of the NSF fees because my girlfriend said that it was illegal what they were pulling. It could be taking longer if Associated Bank is appealing the judge’s decision, but I highly doubt it. They already agreed to pay the $13 million.
Does anyone know were I can find more information on what is going on with the case? Its almost June 2013 and have not heard or seen anything concerning this lawsuit!
Now does anybody know for sure if April 19th was the final hearing? Now it’s May 17th and nothing. Did we get a credit yet? I am going to call Associated Bank and see if I got a credit yet.
Don’t get to excited about the amount. You will probably get a check for $1.96. That is the usually check amount from settlements.
Is there any word on if this has actually been settled or has it been postponed again?
Where is are settlement at
It appears that the Final Approval Hearing is this Friday the 19th. Shortly after we should be recieving credit to our accounts or in the form of chekc for payment. Lawyers are taking 4.29 Million of the settlement. The other 8.58 Million will be put tword the initial complaint filers and to us. My question is how many people are involved in this? if 25,000 people are to recieve money we will only get about $300 or probably less. I know ive paid more in overdraft fees than that amount. I hope not everyone is an overdraft bandit.
Where my money!!?? I also had this same problem and I know you all are reading this say the same thing. So, WHERE THE MONEY AT?!