Laura Pennington  |  January 5, 2020

Category: Fees

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An NSF fee is what is charged when there is not enough funds in an accountA consumer banking with First County Bank has initiated an NSF fee lawsuit against the institution. The plaintiff, Craig M., has filed the suit on behalf of himself and other people who have been similarly affected.

The NSF fee lawsuit claims that the bank is responsible for unfair assessing insufficient funds fees for the same item and even charging NSF and overdraft fees for the same item and transaction.

The allegations named in this suit allegedly violate contractual promises the bank has made with consumers like Craig M. According to the legal claim, the bank was unjustly enriched and the financial institution violated the covenant of good faith.

The plaintiff is seeking damages, injunctive relief, and restitution for the violations named in the lawsuit. The plaintiff argues that the bank could have taken millions of dollars out of the accounts of consumers in an unfair manner.

The lawsuit explains that the plaintiff is the owner of a checking account with First County Bank, an organization with headquarters in Connecticut. The contract named in the lawsuit allegedly allows the bank to charge one overdraft fee or one NSF fee when an item has been returned to the customer’s account for lack of enough funds.

Due to that statement in the contract, consumers expect that a maximum of one NSF charge or one overdraft fee can be charged for a transaction that doesn’t go through properly. As explained in the paperwork filed with the suit, this practice is not widespread throughout the financial industry as many consumers expect that only one charge can be levied for an insufficient funds transfer.

The deposit agreement used by First County Bank allegedly does not disclose the fact that more than one NSF fee can be charged or that both an overdraft fee and an NSF fee can be charged for the very same transaction.

In the lawsuit, the plaintiff details an example incident in which First County allegedly reprocessed two items that were previously declined and then charged a further fee when the items were reprocessed. This led to a fee of $68 per item.

The plaintiff was first charged $34 in an NSF fee when he attempted a payment to Capital One without enough money in the account. The plaintiff recognizes that this first fee is allowed per the deposit agreement he had as a customer with the bank.

A few days later, however, First County allegedly processed that same transaction again and charged a $34 overdraft fee on each occasion. The plaintiff claims that it was his understanding that the $100 payment in question was a single item and that multiple fees should not have been assessed against his account.

The claim that a payment to a bill collector or a check is a separate item each time the bank attempts to reprocess it is unfair according to the lawsuit.

The NSF Fee Class Action Lawsuit is Case No. 3:19-cv-01920-AVC in the U.S. District Court for the District of Connecticut.

Join a Free NSF Fee Class Action Lawsuit Investigation

You may qualify to join this NSF fee class action lawsuit investigation if you were unfairly charged NSF fees by one of these banks:

  • Bancfirst
  • Bell Bank
  • Busey Bank
  • Center Bank
  • CenterState Bank
  • Flagstar Bank
  • Glacier Bank Wings Federal Credit Union
  • Hudson Valley Credit Union
  • Midwest One
  • NBT Bank

Learn More

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