Top Class Actions  |  November 24, 2020

Category: Closed Class Actions

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This settlement is closed!

Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!

UPDATE 2:

  • TCA viewers reported receiving settlement payments of $29 as of early June 2021.
  • Congratulations to everyone who filed a claim and got paid!

UPDATE:

  • The Navy Federal NSF Fee Class Action Settlement was granted initial final approval on April 1, 2021.
  • And Amended Final Approval was submitted on April 8, 2021.
  • Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.

A $16 million Navy Federal fees settlement has been reached to resolve claims the credit union charged unfair non-sufficient funds (NSF) fees to its customers. The settlement will provide cash payments or account credits to consumers based on the number of eligible NSF fees they were charged.

The Navy Federal fees class action settlement benefits consumers who were charged two or three NSF fees on a single transaction by Navy Federal Credit Union between Jan. 28, 2014, and Oct. 27, 2020.

Eligible NSF fees were charged after a merchant re-presented a debit item or check for payment after the initial transaction was rejected due to insufficient funds. If additional NSF fees were charged after the initial rejection, they may be covered under this settlement.

Plaintiff Ruby Lambert filed her Navy Federal fees class action lawsuit in January 2019, arguing the credit union charged unfair NSF fees. Specifically, Lambert challenged the credit union’s practice of charging multiple NSF fees on a single transaction.

The multiple fees reportedly stemmed from merchants presenting transactions for payment several times after the initial rejection. Whenever these transactions were re-presented, Navy Federal Credit Union allegedly tried again to process them. If there were insufficient funds in a consumer’s account, this practice allegedly garnered additional NSF fees on top of the initial NSF fee.

Although this practice is fairly widespread, Lambert contended Navy Federal Credit Union’s account contracts don’t permit the financial institution to charge NSF fees in this way. As a result, the credit union allegedly violated the terms of its agreements.

Navy Federal Credit Union has not admitted any wrongdoing when it comes to its fees but has agreed to resolve the claims against it with a $16 million class action settlement. The deal allows both parties to put an end to the allegations while avoiding the costs and risks of future litigation.

The Navy Federal fees settlement will provide either cash payments or account credits to compensate Class Members for the re-presented NSF fees they were charged. Exact payment estimates are not available, but awards will depend on the number of NSF fees charged to each Class Member and the number of Class Members who choose to participate in the settlement deal.

No claim form is required to benefit from the Navy Federal fees class action settlement. Instead, cash payments or account credits will automatically be distributed to eligible Class Members.

Settlement Class Members have until Feb. 24, 2021, to exclude themselves or object to the settlement. Exclusion means a Class Member will not receive payments but will be able to retain their legal rights to file or participate in another Navy Federal fees lawsuit in the future.

Objections will be reviewed by the court at the final approval hearing March 26, 2021.

Who’s Eligible

Consumers who were charged two or three NSF fees on a single transaction by Navy Federal Credit Union between Jan. 28, 2014, and Oct. 27, 2020.

Eligible NSF fees were charged after a merchant re-presented a debit item or check for payment after the initial transaction was rejected due to insufficient funds.

Potential Award

Cash payments or account credits for NSF fees.

Exact awards will depend on the number of NSF fees charged to each Class Member and the number of Class Members who choose to participate in the settlement deal.

Proof of Purchase

N/A

Claim Form

There is no Claim Form for this settlement. Class Members with further questions can click here for more information.

Objection/Exclusion Deadline

02/24/2021

Case Name

Ruby Lambert, et al. v. Navy Federal Credit Union, Case No. 1:19-cv-00103, in the U.S. District Court for the Eastern District of Virginia

Final Hearing

03/26/2021

Settlement Website
Claims Administrator

Lambert Representment NSF Fee Settlement
c/o JND Legal Administration
P.O. Box 91190
Seattle, WA 98111
info@lambertnsffeelitigation.com
1-833-707-1452

Class Counsel

Jonathan M. Streisfeld
KOPELOWITZ OSTROW P.A.

Hassan Zavareei
Andrea Gold
TYCKO & ZAVAREEI LLP

Jeffrey Kaliel
Sophia Gold
KALIEL PLLC

Defense Counsel

Fred Burnside
DAVIS WRIGHT TREMAINE LLP

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254 thoughts onNavy Federal NSF Fees Class Action Settlement

  1. Valerie Perkins says:

    I am being taken advantage of from Navy Federal credit Union on my credit card I’m being charged 18%, that is the highest percent they can charge and my credit is excellent they claim they were going to put my money back and drop the interest down but they wouldn’t give me no paperwork

  2. Maree D says:

    I’m still waiting to receive anything

  3. Jonathan Nagel says:

    This is BS $5.00? My account got closed down because of NFCU tactics. Also on my credit report.

  4. Tabitha Maultsby says:

    I received 8.00. I think this is a load of bs. We get charged a $29 fee and all I am reimbursed is $8 that doesn’t make sense. This legal team went to court to battle for wrong charges someone is being charged, but we do not properly get a refund of our money. This lawsuit should have produced enough funds for the return of all of those fees, what happened. Lawyers obtained their correct fees, why are the NFCU members not receiving their money?

  5. Kristen Y says:

    I got a $6.28 check today. Seriously??? Shouldn’t it be $29 for each NSF fee?? What a joke!!

  6. Dezzie says:

    I know damn well 5 dollars is not all I’m getting. It was over 800 in NSF representment fees they charged me. Closed out my checking and everything. They just kept charging me. Nah I want all my funds back!!

  7. Melissa Chateigne says:

    Add me

  8. Angela says:

    I received an $18.20 settlement credit from what I understand the fee for an NSF is $29 so how does $18 even cover the $29 that was mistakenly taken away will there be any other adjustments does anybody know

  9. Lucille M Prince says:

    I received a 29 dollar adjustment, will I be getting more

  10. Cody says:

    I received a 5.00 settlement in my account but are we getting a check as well? I for sure remember calling so many times Cuse of those charges

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