Update: BancorpSouth Overdraft Fee Settlement Delayed
By Kimberly Mirando
Recent court orders in the BancorpSouth overdraft fee class action lawsuit settlement have delayed the claims filing process. As a result, Class Members that missed the September 13, 2012 deadline to file a claim may have the opportunity to have the deadline extended.
BancorpSouth reached a $1.75 million class action lawsuit settlement earlier this year to resolve allegations it improperly charged overdraft fees to checking customers by resequencing transaction to maximize the number of fees it could charge.
Class Members had until September 13, 2012 to file a claim to receive a refund from the BancorpSouth overdraft class action settlement. However, a new update on the Settlement Administrator’s website shows a recent court order has stalled the process.
According to the Settlement Administrator:
Recently, a court order was entered by another federal court that appears to be the subject of an appeal. Until the order and appeal are resolved, the process of assisting class members in retrieving bank statements is on hold. Additionally, Epiq, as the Claims Administrator, will not be able to assist settlement class members in answering questions or assisting them in the filing of claims at this time. As additional information is received, court appointed Class Counsel, Emerson Poynter LLP, will ensure that additional information is provided here. For these reasons, the time deadlines on the left-hand side of this page may be extended as well.
The alleged appeal is bad news for those Class Members that filed a claim and are awaiting payment, but is good news for those who missed the deadline as they may have another opportunity to file.
Keep checking Top Class Actions for updates on the BancorpSouth Overdraft Fee Class Action Lawsuit Settlement as they unfold.
Special thanks to Top Class Actions reader “Patricia” for alerting us to the settlement update.
Updated December 17th, 2012
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