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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
Fifth Third Bank Overdraft Fee Settlement
Well there has been no more objections summited to the judge since 6/03 so I’m hoping he will rule in this case soon :-)
Fifth Third Bank Overdraft Fee Settlement
Thanks Linda…
Fifth Third Bank Overdraft Fee Settlement
I know were you all are coming from I to have been ripped off from fifth third and I think it,s bullshit that we have to wait so long for this settlement to go threw. If it was us that owed them money we would already be in court or worse!! Well good luck to you all!!!!!!!!!!!!!!
Fifth Third Bank Overdraft Fee Settlement
Hi Tim,
The website that I find the latest info is law360.com also google Schulte v. Fifth third bank :)
Fifth Third Bank Overdraft Fee Settlement
This message is for Linda,
Where are you getting your information from because I have been searching?
Fifth Third Bank Overdraft Fee Settlement
Hoping there will be no other appeals since it sounds like the only thing being disputed is the unfairness of how we 5/3 customers were given no way of providing our claims in a honest way unless we had save all our statements over a 5 yr period (yeah right) or we pd $5 for every statement older than 18 mo. I supplied what I could & asked they review all my dates since I knew that it happened periodically over those yr spans. I would hope with them trying to grow & keep a good public image that they will make this right soon :)
Fifth Third Bank Overdraft Fee Settlement
The last dockets that were given to the to the judge was Jun 3, 2011 there are four objectors in this case Sharon Green, Michelle Keys, Amanda Ratliff, Verdel Ratliff and they all have there own group of lawyers this is what is delaying the final approval in this case who are these people that would object to getting some of there money back ??
Fifth Third Bank Overdraft Fee Settlement
The Judge has had March, and May to rule on this case. He’s dragging his feet, and probably because he only works 3 days per week.
“Plaintiff and Defendant are given until 5/13/2011 to file a brief (or briefs)
of no longer than 10 pages to address the argument raised at the fairness hearing by counsel for Objectors
Keyes and Ratliff that it would be impossible for any class member to submit a claim in good faith on the
basis of the settlement documents as they currently are written.”. It’s been over a month now, this Judge needs to make a ruling on this case ASAP. This is money that was stolen from me from 2004-2007, I left Fifth Third cause of this crap. They owe me my money, and all other claimants. This is BS!! Someone needs to talk to the lawyers or Judge to find out why it’s taking so long. I need this money ASAP, as others do from their comments on this blog. >:o
Fifth Third Bank Overdraft Fee Settlement
I emailed the attorneys on 6/4 and their response was “the court has not granted final approval yet and that checks will be issued once court grants final approval and after any appeals are resolved.” Translation folks: don’t hold your breath we will not see anyhing until next year. These things take time and they will exhaust all legal options to delay payment of this money.
Fifth Third Bank Overdraft Fee Settlement
if anyone hears any more about the disbusment of funds from the lawsuit please post as soon as you hear. im sure im not the only one who would really appreciate it, thanks.