$1M Equity Bank overdraft fees class action settlement

Equity Bank agreed to a $1 million class action settlement to resolve claims it improperly charged certain overdraft and nonsufficient funds fees to accountholders.

The Equity Bank settlement benefits current and former accountholders who were charged certain “challenged fees” between Jan. 1, 2017, and Nov. 21, 2025.

These challenged fees include overdraft fees charged between Jan. 1, 2017, and Dec. 7, 2019, and between Nov. 8, 2020, and Sept. 1, 2024, on debit card transactions that were authorized on a sufficient available balance and settled in the authorized amount; overdraft or nonsufficient funds fees charged between Feb. 22, 2018, and Dec. 31, 2023, on the second or third presentment of the same item; and overdraft fees charged between Feb. 2, 2017, and Nov. 21, 2025, on days when the end-of-day balance was not overdrawn.

According to the class action lawsuit, Equity Bank improperly assessed these fees against customers in violation of its account agreements and applicable law.

Equity Bank denies any wrongdoing but agreed to a $1 million class action settlement to avoid the expense and uncertainty of ongoing litigation.

Under the terms of the settlement, Equity Bank will create a $1 million settlement fund. The bank also agreed to forgive and charge off at least $225,000 in unpaid challenged fees that were not collected.

The deadline for exclusion and objection is June 7, 2026.

The final approval hearing for the Equity Bank settlement is scheduled for June 29, 2026.

Class members do not need to submit a claim form to receive benefits. Eligible consumers who remain in the settlement class will automatically receive a payment by check, account credit or forgiveness of unpaid challenged fees. Payments will be distributed on a pro rata basis based on the amount of challenged fees paid by each class member.

Who’s Eligible

The class action settlement benefits Equity Bank current and former accountholders who were charged one or more of the following fees during the applicable class periods:

• APSN fees: Jan. 1, 2017, to Dec. 7, 2019, and Nov. 8, 2020, to Sept. 1, 2024
  
• Retry fees: Feb. 22, 2018, to Dec. 31, 2023
  
• Sufficient funds fees: Feb. 2, 2017, to Nov. 21, 2025
  

Potential Award

Varies

Proof of Purchase

N/A

Claim Form Deadline

06/07/2026

Case Name

Merrell, et al. v. Equity Bank, Case No. 2216-CV02011, in the Circuit Court of Jackson County, Missouri

Final Hearing

06/29/2026

Settlement Website

MerrellFeesSettlement.com

Claims Administrator

Merrell, et al. v. Equity Bank Settlement Administrator
c/o Verita Global
P.O. Box 301130
Los Angeles, CA 90030-1130
[email protected]
888-808-7281

Class Counsel

Marty Schubert
STRANCH, JENNINGS & GARVEY PLLC

Defense Counsel

Andrew J. Demko
MAYER BROWN LLP