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Associated Bank Reaches Overdraft Fee Class Action Settlement
By Matt O’Donnell
UPDATE 2: Payments in the Associated Bank overdraft settlement will go out October 9, 2013.
UPDATE 1: A federal judge approved the Associated Bank overdraft class action lawsuit settlement on August 2, 2013.
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.
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.
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.
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.
The Associated Bank overdraft fee class action settlement still needs final court approval before it becomes effective.
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
Final final approval hearing is Aug 1, that is what I got when I talked to atty in Florida 2 weeks ago. She said lots of very fine points. Should have money end Oct, she did not specify which year though.
Final final approval hearing is Aug 1, that is what I got when I talked to atty in Florida 2 weeks ago. She said lots of very fine points. Should have money end Oct, she did not specify which year though.
Final final approval hearing is Aug 1, that is what I got when I talked to atty in Florida 2 weeks ago. She said lots of very fine points. Should have money end Oct, she did not specify which year though.
“Good New, the court has set a brief hearing for Aug.1st where we will finally obtain the Final Approval Order”
Looks like this is still pending court approval. I emailed one of the attorneys and possible late in July for settlement
Ron you are incorrect. If someone paid our $1000 then they will receive $1000. Look up Bank of America. Those people got $33 per NSF fee instead of $37 only because the bank appealed. Something like that. Associated Bank already agreed to pay out they are just playing their stupid little games that’s all.
Has anyone contacted any of the lawyers on this case. Last I heard on 6/4/13 was “the order has not yet been entered. The order will be entered any day. However, know that the court is very backlogged”
so i reread the lawsuit info AGAIN!! and it states they had a dissagreement in he language of the suit in section 89 which was amended on may 18 2013. i dont no if there r ne other issues pending but i think this is what has been setting the payments off. i dont no now where the payments r or when u will get them but for those of u who got the letter stating the last court was in march u also have to wait for stupid shit like this! hopfully this is the last of the problems since both sides agreed to the rest of the lawsuit. hopfullly we will all see payment soon.
As I understand the settlement, Associtated Bank agree to about 50% of the total claim, which is the 12 million and about 33% goes to the attorneys. So, if I have done my math right the eight million that will be divided to us will be about 33% of what you paid for the overdraft charges…. So, if you paid 1000.00 over this period, I think you will get close to 333.00
I had emailed one of the attorneys representing us and he replied One part of the case was rejected by the judge, as I understand it, he wanted better writing on what happens to the funds that go uncollected. As of this point after a second email I was told they are waiting on the judge to sent a new date. I had requested the website be updated…