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Great Western Bank Reaches Overdraft Fee Class Action Settlement
By Matt O’Donnell
UPDATE: Details on how to file a claim for the Great Western Bank Overdraft Class Action Lawsuit Settlement are up!
Great Western Bank has agreed to pay $2.2 million to settle a class action lawsuit alleging it manipulated customers’ debit charges in order to generate additional overdraft fee revenue. The case is part of a massive multidistrict litigation accusing more than 30 different banks of posting debit card transactions out of chronological order to increase the number of overdraft fees charged to account holders.
Great Western Bank is accused in the overdraft fee class action lawsuit of posting debit card transactions from highest dollar amount to lowest dollar amount in order to trigger overdraft fees and generate more profit. In addition to paying customers $2.2 million in refunds as part of the class action settlement, Great Western Bank agreed to change its debit transaction policies for at least two years, including: limiting the number of overdraft fees it can charge on a single day; not charging overdraft fees unless the account has a negative balance of more than $10; and posting transactions from low-to-high or in chronological order.
“Posting order will ensure that members of the settlement class who are current account holders, as well as all other GWB account holders, will no longer incur overdraft fees as a result of the bank’s former practice of debit resequencing,” said the Plaintiffs’ attorneys in their motion for the Great West Bank overdraft fee class action settlement.
Several banks involved in the case, entitled In re Checking Account Overdraft Litigation, have already agreed to class action lawsuit settlements. So far Bank of America has agreed to the largest overdraft fee class action settlement at $410 million. JPMorgan Chase ($110 million), Citizens Bank ($137.5 million), PNC Bank ($90 million), U.S. Bank ($55 million) and TD Bank ($62 million) all reached class action settlements in the overdraft fee lawsuit.
Multiple class action lawsuits have also been filed against numerous credit unions alleging the same deceptive overdraft fee practices.
Updated March 21st, 2013
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14 thoughts onGreat Western Bank Reaches Overdraft Fee Class Action Settlement
you have to type in http://www.GreatWesternBankOverdraftSettlement.com exactly as ive typed it, caps and all or it wont work. the claim form is on the top and has to be downloaded, its very time consuming and requires that the customer prove we got screwed rather then GWB having to turn over their records and show exactly how they screwed us over. I have an account from 2004 forward thru 2009 and I dont have the statements for them anymore so I will have to depend on GWB to produce them for me at a cost to me. this settlement could be a good thing but I also think is ALOT of work for the customer and very discouraging. it appears that the number one to benefit from this settlement will be the attorneys. Good luck with your claim
i have recieved a card for the class action suit
please direct me to settlement so i can fill claim form
Thank you so much Trish Stecker. The phone number was very useful as I did the same as you. I also emailed one of the attorneys who filed the case so I should be fine soon.
I called 1-800-708-8796 & got a recording that takes your name & adress to mail you forms. I am suppose to get them sent to me within 5 business days. Hope this helps someone.
I did not receive the web site to go to to file a claim on this. Could you please direct me to one.
Please direct me to where i can file a claim for the law suit
I also have been looking for the website that was on my mailing card but can not find it. Thank you in advance for you time
i didn’t receive where to go online to fill out the form and i cant seem to find it online anywhere. can someone please lead me to where i need to go to file?
I have went to the web site to file a claim on this and can not find a claim form to fill out. Could you please direct me to the site where this claim form is located.
Thank you for your time.
Eugene W. Scott Jr.