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|PNC Reaches $90M Overdraft Fee Class Action Settlement|
- Wednesday, 27 June 2012 09:42
PNC Reaches $90M Overdraft Fee Class Action Settlement
By Kimberly Mirando
At least 13 other banks -- including Bank of America, JPMorgan Chase, Union Bank and Citizens Bank -- have reached class action lawsuit settlements in the case, In re: Checking Account Overdraft Litigation, which accuses the banks of reordering debit card and ATM transactions from highest to lowest, rather than in the order the transactions occurred, in order maximize the number of overdraft fees they could charge a customer.
PNC reached a separate class action lawsuit settlement regarding improper overdraft fees last year, in which it agreed to refund customers nearly $12 million in unfair overdraft fees.
A lawyer for the Plaintiffs in the current case says he anticipates the new settlement with PNC to be presented to the Court for preliminary approval later this summer. At least “several hundred thousand” PNC customers throughout the country who were overcharged for debit and ATM overdrafts between 2004 and 2010 will be covered by the PNC class action settlement.
Keep checking Top Class Actions for details on how to file a claim for the PNC Overdraft Fee Class Action Lawsuit Settlement when they become available.
The case is In re Checking Account Overdraft Litigation, Case No. 09-md-02036, U.S. District Court, Southern District of Florida (Miami).
Updated June 27th, 2012
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Last Updated on Thursday, 27 December 2012 11:09