This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Updates:
- The opt-out deadline is now June 24, 2024.
- The claim deadline is now Aug. 8, 2024.
- The final hearing date is now July 24, 2024.
Navy Federal Credit Union (NFCU) agreed to a $5.5 million settlement in a class action lawsuit that claimed it breached its agreements with account holders by assessing fees on debit transactions.
The settlement class is composed of all Navy Federal account holders charged at least one ISA fee for transactions conducted in the United States between Aug. 9, 2016, and March 24, 2023.
The plaintiffs in the case alleged that within the class period, the defendant committed a breach of contract and breach of the implied covenant of good faith and fair dealing by charging an international service assessment (ISA) fee for transactions made in the U.S.
Navy Federal Credit Union has refuted any wrongdoing, asserting that the lawsuit lacks merit and that the company assessed the fees properly and per the terms of the debit card disclosure provided to new members when they open a debit card.
Navy Federal Credit Union is a not-for-profit credit union exclusively serving the military, veterans and their families. The company serves over 13 million customers in the U.S.
NFCU will pay $5,500,000 into a settlement fund, and eligible class members can receive financial compensation if the class action lawsuit settlement is approved and becomes final.
Class members must submit a claim form online or by mail to receive a payment. Class members can access the online form by entering a unique ID and PIN previously mailed out. The maximum possible base payment is $4.
If there are remaining funds in the net settlement fund after the total base payments are determined, the surplus will be paid to class members who submitted valid claims and incurred ISA fees exceeding $4 during the class period. This additional payment will be the amount equal to each of the class member’s respective actual ISA fees, less $4. If insufficient funds remain to pay those eligible an additional payment in the total amount of their respective actual ISA fees, the payments will be reduced pro rata.
The deadline for exclusion and objection is June 24, 2024.
A final approval hearing in the Navy Federal Credit Union class action lawsuit settlement will take place July 24, 2024.
The claim form submission deadline is August 8, 2024.
Who’s Eligible
All Navy Federal account holders who were charged at least one ISA fee for transactions conducted in the United States between Aug. 9, 2016, and March 24, 2023.
Potential Award
$4
Proof of Purchase
N/A
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
06/07/2024
Case Name
Morrow, et al. v. Navy Federal Credit Union, Case No. 1:21-cv-722, in the U.S. District Court for the Eastern District of Virginia, Alexandria Division
Final Hearing
05/23/24
Settlement Website
Claims Administrator
Morrow v. Navy Federal Settlement Administrator
PO Box 2329
Portland, OR 97208-2329
877-581-8129
Class Counsel
Sophia Gold
KALIELGOLD PLLC
Jeff Ostrow
KOPELOWITZ OSTROW P.A.
(Eddie) Jae K. Kim
LYNCH CARPENTER LLP
David Wilkerson
THE VAN WINKLE LAW FIRM
Defense Counsel
Michael Gottlieb
Meryl Governski
Nicholas Reddick
WILKIE FARR & GALLAGHER LLP
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31 thoughts onNavy Federal Credit Union ISA fees $5.5M class action settlement
I m battling them concerning my Credit Card with them. I got hacked back in Jun 2023. Hacker managed to shut down my mobile phone (Cricket svc), got into my account, dont know how since I dont bank on phone. Trf what I had on my credit card to my checking, then used the Zelle App to forward all to a phone number. Mind you, Navy should of known, as Ive never used Zelle. They reluctantly gave me my money back, but stated they charging me a “cash Advance fee” til the whole amount I had originally is paid back. The problem is they KEEP charging me every month since then, even when the amount was fulfilled a few months later. Ive never used the cash advance, as I know it is a higher interest rate. I had to file complaint. And, as you have seen, they are not FOR the military, veterans.
Iam a member was a couple years
Add me a member for along time
Please add me to this class action lawsuit.
Please add my name.