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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
How do we get a check if we no longer bank with them? I know I have an old address with them. They say to contact the system administrator. ????
2 deposits totalling $55. Nothing near overdraft fees that were incurred.
A whopping $30.56 was credited to my account.
Checks are being mailed from Portland OR and go out tomorrow.
Well I got 2 different deposits totaling just over $250
Nothing
hmmm no payment yet this morning to my account–has anyone received a payment?
FYI – I emailed one of the attorneys listed on the website and received this prompt response
Rebecca,
Thank you for your email. Eligible class members will receive their account credits on October 9th. Sorry for the slight delay. Thanks.
Regards,
Jason H. Alperstein, Esq.
KOPELOWITZ OSTROW
FERGUSON WEISELBERG KEECHL
200 S.W. 1st Avenue, 12th Floor
Fort Lauderdale, Florida 33301
Telephone: (954) 525-4100
Facsimile: (954) 525-4300
E-mail: alperstein@kolawyers.com
Website: http://www.KOlawyers.com
Admitted in Florida and New York
how can we find out IF we will get a payment? Why is this so difficult to get any information? The information is very vague.
Nope. No money today either.