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UPDATE 2: The BancorpSouth Overdraft Class Action Settlement has been terminated and the lawsuit dismissed.
UPDATE 1: Recent court orders have delayed the claims filing process for the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement.
BancorpSouth has agreed to pay $1.75 million to settle a class action lawsuit accusing it of charging customers improper overdraft fees. Current and former BancorpSouth customers who were charged a non-sufficient funds fee or overdraft fee between 2004 and 2011 can file a claim to receive a refund from the class action settlement.
The BancorpSouth overdraft fee settlement will resolve a class action lawsuit accusing the Mississippi-based bank of assessing non-sufficient funds fees and overdraft fees on debit card and check purchases and ATM withdrawals in a number of ways that were illegal.
According to the BancorpSouth overdraft fee class action lawsuit, the bank resequenced transactions to maximize the number of non-sufficient funds fees and overdraft fees it charged to customers. This was allegedly accomplished by processing the largest transaction first instead of processing the transactions as they were received.
BancorpSouth denies the allegations, but has agreed to a class action lawsuit settlement to resolve the litigation.
A federal court preliminarily approved the BancorpSouth settlement and has set a final approval hearing for July 30, 2012.
More than 350,000 current and former customers are covered under the BancorpSouth class action settlement, which includes all persons in the United States who currently or in the past had a BancorpSouth account in which at least one non-sufficient funds fee or overdraft fee was charged or collected between May 1, 2004 through and including December 31, 2011.
In order to receive a refund from the BancorpSouth overdraft fee settlement, you must be meet the following additional qualifications: (1) you incurred two or more overdraft fees during one banking day as a result of a BancorpSouth debit card transaction during the period listed above, and (2) the overdraft fee was not reversed, refunded, or returned by the bank.
To receive a payment from the BancorpSouth class action lawsuit settlement, you must submit an electronic claim online at www.BancorpOverdraftSettlement.com or a paper claim to the Settlement Administrator no later than September 13, 2012.
Claim forms and more information on your rights in the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement can be found at www.BancorpOverdraftSettlement.com.
Detailed instruction on how to file your claim and receive a refund can be found in our Open Lawsuit Settlements section.
Join a Free Bank Overdraft Class Action Lawsuit Investigation
If you have incurred overdraft fees in the last three years from any of the following banks, you may be eligible to participate in a class action lawsuit to recover some or all of your overdraft fees:
- Ally Financial Inc.
- Bank of Hawaii
- Bank of the West
- Capital One Financial Corp.
- Commerce Bank
- Fifth Third Bancorp
- HSBC North America Holdings Inc.
- BOKF NA (includes Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust).
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25 thoughts onBancorpSouth Overdraft Fee Class Action Settlement
I filled out the claim form too and wonder when the check will arrive?
ditto, vickie
I filled out form online received a confirmation number haven’t heard anything since just wanna know when will I receive my settlement check
i am in the lawsuit and i sent in my form but i never heard anything yet but could you send my refund to my p.o.box 1345 troy al, 36081 thank you!
Bancorp South is stilling resequencing my account!!!! Who can I contact about this?
I had my account down to about a dollar. I owed some overdraft fees to bankcorpsouth. I was waiting on my refund check from thw IRS and when my check did come Bankcorpsouth took the fees from my IRS check (that was direct deposit) without my permission, didn’t do a deposit slip or anything. I asked them about it and they said Well wa’re gonna get our money regardless. I was going to pay them anyway, But THey didn’t even give me that chance. The moment my IRS check went in the bank , Te sooner they took that money witch I’m not so sure it was their money afterall now.
Stacey AL.
I had an account with bankcorp south but i cant remember the account number.i was sent a claim form but dont have the dates,so i dont know how to fill out the form.i think my year was 2007to2009or 2110.
My son and I also had a account that was closed and we can not remember the account number our branch where we had the account from 2007-2010, could not or would not give us the account. I still have an account with BancorpSouth and want to know how can I get the account number , my son was in the army and his check was sent direct deposit .
could please send my refund to 425 Lambuth Blvd jackson Tn 38301 for the overdraft fee.
I had more than two accounts with bancorpsouth and do not remember the account no. what do I do . I wonder if I can just give them my ok can they look it up . I closed a account and do not know the number due to overdarfts.