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Fifth Third Bank has agreed to a $9.5 million settlement of a class action lawsuit concerning the way it issued overdraft fees. If you paid overdraft fees related to a Fifth Third debit card, check card and/or bank card, you could receive up to three times the amount you were charged from the class action settlement.
According to the Fifth Third class action lawsuit, Fifth Third Bank posted debit card transactions and/or ATM withdrawals in non-chronological order so that the bank could maximize the number of overdraft fees it charged to customers who had insufficient funds. Fifth Third Bank denies any wrongdoing, but has agreed to establish a $9.5 million settlement fund to settle the case, entitled Schulte v. Fifth Third Bank.
If you had a Fifth Third bank account at any time between October 21, 2004 and July 1, 2010, and incurred at least one overdraft fee as a result of the “re-sequencing” of at least one Fifth Third debit card transaction in non-chronological order, you’re considered a member of the settlement class and eligible to receive a cash payment from the Fifth Third overdraft fee settlement.
As part of the Fifth Third overdraft class action settlement, class members who submit valid claim forms by the deadline of May 2, 2011 will be eligible to receive up to three times the amount of overdraft fees they claim they were charged, depending on the total amount of valid claims submitted. If you do not have all of your bank records to support your claim, and your claim is based only on your best knowledge and belief, Fifth Third has the right to contest your claim. Claim forms can be downloaded or submitted online at the Fifth Third Overdraft Settlement Administrator website: www.overdraftsettlement.com.
For more information on how to file a valid claim form for the Fifth Third Overdraft Fee Class Action Lawsuit Settlement, see our Open Lawsuit Settlements section.
Updated November 30th, 2010
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417 thoughts onFifth Third Bank Overdraft Fee Settlement
Glad to see folks are getting checks from this. I received a letter at the end of Jan. stating that my claim was denied. After all this BS I just threw it in the trash and said “good riddance”. And that was that, until I check my mail today and find a check from 5/3 Settlement Fund. I received $128 and some change, and it came at the right time for me. I am curious about the denial letter and then the check. Has this happened to any of you?
So 18% of the original amount
$700 @ up to 3x amount should’ve been about 2k……$139. If my math is right, just under 7%. Good luck folks…..
Received check today for 22% of approved claim
I received my check today, March 3, 2012. It was about 1/3 of the total damages I included in my filing. I did include documentation with my claim, so I’m not sure if that makes a difference or not.
Usually in a class action lawsuit, Petitioners only receive a portion of the actual damages.
Good luck to everyone else.
Same here – nothing yet….but counting on tomorrow (Saturday) hopefully! Glad we are starting to receive them anyway – now just curious how much….15%……25%…..more? Looks like about 22-26% in my case judging by other boards and this one on what the claims were compared to what they received in my dollar amount but will update when received….:) If it isn’t covered in snow somewhere before it gets to me – lol. Stay Frostie!
March 2 and still nothing.
If I receive 3/3 I’ll update
Sorry all, it’s Tarter.
I’m telling ya, it’s a frigging conspiracy between the lawyers, judge and the big money bankers (which also includes the one and only Mr. Tartar). For those of you who don’t know, our Mr. Tartar was the one who came up with the REDICULOUS formula that got us to the sad amount of the settlement. If ya do a little research of his name, you can come up with his firms website… write him a little message to say THANKS.
Yep, 79 bucks back, they get to keep 321.00… more than I expected BUT STILL A CRIME OF STEELING.