July 03, 2012
BBVA Compass Bancshares Inc. on Tuesday agreed to pay $11.5 million to exit multidistrict litigation in Florida, becoming the latest bank to settle the suit accusing a slew of financial giants of tampering with customers' debit card transactions to collect higher overdraft fees.
July 02, 2012
U.S. Bank NA is the latest to resolve allegations that it tampered with its customers' debit card transactions to collect higher overdraft fees, agreeing on Monday to pay $55 million to skip out of the multidistrict litigation in Florida.
June 26, 2012
PNC Bank NA on Tuesday agreed to fork over $90 million to settle a class action claiming it used a computer software scheme to illegally collect hundreds of millions of dollars in excessive overdraft fees.
June 22, 2012
A Florida federal judge on Thursday certified a class of Capital One NA account holders in multidistrict litigation accusing the banking company of illegally manipulating debit card transactions to collect hundreds of millions of dollars in excessive overdraft fees, in violation of its contracts and state consumer protection laws.
May 16, 2012
A Florida federal judge on Wednesday certified a nationwide class and 11 regional subclasses of account holders in a suit against PNC Bank NA alleging the company used a computer software scheme to illegally collect hundreds of millions of dollars in excessive overdraft fees.
May 11, 2012
TD Bank NA on Friday offered a $62 million settlement to resolve claims that it manipulated the order of debit card transactions to maximize overdraft fees, just a month after a Florida federal judge certified a class of the bank's customers.
May 04, 2012
A Florida federal judge on Friday certified a nationwide class of account holders in a suit against BancorpSouth accusing the banking company of illegally manipulating debit card transactions to collect hundreds of millions of dollars in excessive overdraft fees.
April 25, 2012
RBS Citizens NA on Wednesday agreed to pay $137.5 million to settle its role in a class action alleging it manipulated customers' debit card and ATM transactions to generate excess overdraft fee revenues.
April 04, 2012
A Florida federal judge granted class certification Tuesday to TD Bank NA customers alleging the bank manipulated the order of debit card transactions to maximize overdraft fees, in violation of its contracts and state consumer protection laws.
March 21, 2012
The Eleventh Circuit ruled Wednesday that whether a putative class action over M&T Bank Corp. overdraft fees is subject to arbitration should itself be decided by an arbitrator, overturning a Florida federal judge's ruling that the case lies outside an arbitration agreement's scope.