An overdraft class action lawsuit claims that Alliant Credit Union wrongly charges customers overdraft fees.

Plaintiff Alicia Page claims that she was a customer with Alliant Credit Union, and had opted into an overdraft protection program. She claims that the company began charging overdraft fees when she had not overdrafted her account. Allegedly, this occurred multiple times.

The Alliant overdraft class action lawsuit claims that Alliant made a widespread practice of charging consumers overdraft fees when they had not overdrafted their account. Page aims to represent all consumers who were reportedly injured due to these practices.

Page claims that she was financially harmed by Alliant’s practice in multiple ways. She claims that she was financially injured by being charged the overdraft fees themselves, and because when a fee was charged, it reduced the amount of money in her count, thereby increasing the likelihood that she would not have enough money in her account for a purchase, and thus increasing the likelihood that she would again be charged an overdraft fee.

Page claims that Alliant violated regulations set by the Consumer Finance Protection Bureau, which prohibits financial institutions from improperly charging overdraft fees. She alleges the credit union processed transactions out of their correct order, which can result in more overdraft fees being charged than otherwise would be.

Page states that in her agreement with Alliant to enter into an overdraft protection program, she signed two documents agreeing to be charged a fee if she attempted to make a purchase for an amount higher than the amount in her account. She says that under these terms, when the fee was charged, she would still be able to make the purchase.

However, she claims that Alliant did not describe its overdraft procedure in full in the documents she signed when she opted into the program. She claims that because the company did not describe its overdraft procedures in full, the company effectively did not obtain her fully informed consent before entering her into the overdraft protection program.

Allegedly, this violates the Consumer Finance Protection Bureau regulations, which requires companies to obtain a customer’s fully informed consent before entering them into an overdraft protection program. Additionally, the CFPB allegedly requires companies to explain their overdraft service “in a clear and readily understandable way.

The Alliant Credit Union overdraft class action lawsuit claims that the company violated its own contract with members of its overdraft protection program, because the contract promised that the company would do business “in good faith and fair dealing.” Page claims that had consumers known the actual facts of the company’s overdraft protection program, they could have avoided incurring fees.

Page further claims that Alliant was unjustly enriched by its practice of charging fees when a consumer had not actually overdraft their account. As a result, Page seeks to recover damages for herself and Class Members, as well as penalties for the company’s alleged legal violations.

The Alliant Credit Union Overdraft Protection Program Class Action Lawsuit is Case No. 2:18-cv-11481-SDW-CLW, in the U.S. District Court for the District of New Jersey.