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Associated Bank Overdraft Class Action Settlement Approved

By Mike Holter

 

Associated Bank overdraft settlement

UPDATE 10/7/13: Class Counsel has confirmed with Top Class Actions that eligible Class Members will receive their account credits on October 9, 2013. Former account holders will receive their credit via a mailed check. Find out more.

 

A federal judge on Friday granted final approval to a $13 million class action lawsuit settlement between Associated Bank and customers who were charged improper overdraft fees.

On August 2, U.S. District Judge James Lawrence King approved the class action settlement as fair and reasonable, drawing an end to a 2010 class action lawsuit accusing Associated Bank of manipulating customers’ checking account transactions in order to trigger overdraft fees. In addition, plaintiffs alleged Associated Bank chose not to decline transactions that would incur an overdraft fee and failed to adequately disclose to customers that they could opt out of overdraft protection.


Associated Bank denies any wrongdoing but agreed to a class action lawsuit settlement in 2011.

Class Members of the Associated Bank overdraft settlement include all customers who had a consumer deposit account with the bank that was:

  • Opened anywhere other than in Illinois and accessible with an Associated Debit Card between January 1, 2004 through July 26, 2012; or
  • Opened in Illinois and accessible with an Associated Debit Card between April 2, 2000 and July 26, 2012; and
  • Was charged one or more overdraft fees as a result of the bank’s practice of posting debit card transactions from highest to lowest dollar amount.


There is no claim filing process for the Associated Bank overdraft class action settlement; Class Members will automatically receive a cash award credited to their account (if they’re a current customer) or mailed to them as long as they did not opt out. The amount of your payment cannot be determined at this time, but will be based on a number of factors, including how many overdraft fees you incurred and how many Class Members remained in the settlement.

Payments or account credits will be issued after any appeals that may be filed are resolved.

More information on your rights in the Associated Bank Overdraft Class Action Lawsuit Settlement can be found at www.ABOverdraftSettlement.com.

The case is In Re: Checking Account Overdraft Litigation, Case No. 09-cv-02036, U.S. District Court, Southern District of Florida.

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25 Comments

  • Tosha Flint August 13, 2013

    I’m concerned about missing out on this “US BANK took me for a ride back in 03′ thru ’10 an I had no knowledge of the other suits going on. I do have my Account #’s that these wrong’s were accounted to! In fact with not very much work the info is not hard to trace with the microfilm of my accounts. I’m not sure ,however I may have the records of some these sin’s of “US Bank of them myself. Imagine not knowing from on moment to the next the true balance of my account from the Bank’s activities! I had a friend remind me about the health issues that were intensified due to these atrocities. I’ve tried to access the ‘US Bank record’s an not having my “PIN” from those years ago I’m unable to access my amount’s .
    Interested,

    Tosha M Flint
    toshamoore56@gmail.com

  • Diane Lemon October 4, 2013

    When can I expect payment of the settlement

  • dIANE K TAYLOR October 5, 2013

    HELLO,

    SORRY TO SAY, I LOST THE CHECK THAT WAS MAIL TO ME FROM YOU AS COMPENSATION FOR ASSOCIATE BANK UNFAIR OVERDRAFT POLICIES. I RECEIVED THE CHECK IN AUGUST. THE AMOUNT OF THE CHECK WAS ABOUT $360+. I MISPLACED THE BINDER WHEN I WAS SHOPPING AND WAS UNABLE TO RELOCATE THE BINDER AND CHECK. I WAS HOPING YOU WOULD REISSUE THE CHECK TO ME, DIANE K. TAYLOR.

    (Personal information removed by editor. Top Class Actions is NOT a settlement administrator and does not process claims. Only the settlement administrator can reissue checks.)

    THANK YOU FOR YOUR ASSISTANCE.

    BEST REGARDS, DIANE

  • Jeff October 5, 2013

    I have been following this settlement closely and saw that Oct 4th 2013 as the anticipated date to receive class member awards…has anyone out there seen a check or account credit yet? I have not as of 10/5/13

  • Pennie October 6, 2013

    Jeff…I have been checking my mail and bank acct so far no cash or check….

  • Becky October 7, 2013

    I emailed one of the attorneys listed on the website and received this response –

    Rebecca,

    Thank you for your email. Eligible class members will receive their account credits on October 9th. Sorry for the slight delay. Thanks.

    Regards,

    Jason H. Alperstein, Esq.

    KOPELOWITZ OSTROW

    FERGUSON WEISELBERG KEECHL

    200 S.W. 1st Avenue, 12th Floor

    Fort Lauderdale, Florida 33301

    Telephone: (954) 525-4100

    Facsimile: (954) 525-4300

    E-mail: alperstein@kolawyers.com

    Website: http://www.KOlawyers.com

    Admitted in Florida and New York

  • Ms Young October 7, 2013

    Do anyone know how do we find out what the deposit credit will be? Did they send out an notice to anyone?

  • Pennie October 7, 2013

    I just spoke w/the attorneys office at the number listed below…the settlement checks were scheduled to go out in the mail or direct deposited if you still hold the original acct on Oct 4,2013…for sure now they will be mailed or deposited Wednesday Oct 9,2013..she couldn’t tell me any amounts of the checks..it is all based on individual accts…. I guess its a waiting game now..keeping my fingers crossed..Good Luck everyone…just in case you have changed your address and no longer have the acct..you need to contact the settlement administrator for change of address:AB Overdraft Settlement,PO Box 4259,Portland OR 97208-4259…

  • Ms Young October 7, 2013

    Thanks so much Pennie

  • Jeff October 7, 2013

    Thanks for the updates and info!

  • Wendy October 8, 2013

    I guess that they are not following the same procedure as Bank of America. They sent them one week notice of how much money they were getting. Hey everybody check on October 17th for default. Buy lots of groceries. The dollar won’t be worth anything just a piece of paper!

  • Wendy October 8, 2013

    Tosha, thanks for the information about U.S. Bank you can be added to the list. I just did it. just google U.S. Bank class lawsuit and they will ask for your name, email and state. Good luck!

  • Michael Ross October 9, 2013

    I got my check, $53.48. I had about forty overdrafts. I called them several times because of their creative accounting. They refunded back one overdraft on a couple of occasions because I complained they were putting the debits from the larger amounts to the smaller in order to debit as much as they could. They denied this but I informed them I knew it was true because my wife worked in IT and knew the program existed. Must be about 5 cents on the dollar refunded.

  • Jenni October 9, 2013

    I received my payment today. There were two payments totaling around $15. That’s it!

  • Pennie October 9, 2013

    Nothing yet for me…but I hope that I get better then what is being reported…I was overdrafted for 20.00 and because of their policy of after 7.00 insifficant funds I got the original 35.00 fee plus 7.00 a day w/NO NOtice…by the time I noticed it I was already 172.00 over drawn just on fees….I called the bank and explained to them that i am on a fixed income my money comes in on the first of the month and goes out that same day..I had left 40.00 in for just in case….said I had no money to bring my acct current till the beginning of the month…they didn’t care their was nothing they could do…by the time it was all said and done the following month they took off the top of my pension/SSI payment 500.00 for all the over draft fees.I Never got one over draft notice in the mail even after I talked to the lady…I only get 800.00 a month …thank goodness I saved my bank statement from the period…they owe me BIG time……!!!

  • Pennie October 9, 2013

    they were awarded 13mill…the 4 ppl that brought the suit ended up w/5,000 if it was a single acct holder (2,500.00 each if you had a joint acct)…the suit only effected banks in WI and some in Illinois….the lawyers got paid separately…I was expecting my payment plus interest…dreaming was nice of a big payout was nice……!! ..my mail doesn’t come till afternoon…Hey Good thing the post office is exempt from the gov shutdown…!!! LMBO…anxious to hear your thoughts and hearing more of who got what..

  • Paul October 9, 2013

    75.00, and they cheated me out of at least 2 thousand…..go figure. They are still playing with numbers.

  • erin October 9, 2013

    15k in OD fees in 5 years and $77 bucks back. What a slap in the face.

  • maria October 10, 2013

    What joke only $7 back they should it keep them.

  • Michael October 10, 2013

    What a joke. The only ones making out, as usual, are the lawyers. We are only getting pennies on the dollar. Once again, the consumer gets screwed.

  • Pennie October 10, 2013

    Nothing for me so far…anxiously awaiting the mailman that comes at noon…*to be continued*…lol

  • Wendy October 11, 2013

    Hey Paul, did you get $75 for 2 overdrafts? I am still waiting for the mail. Anybody get their mail yet? How much are they paying out for each overdraft? I had at least 3

  • Pennie October 15, 2013

    $29.00 ..should of been more but better then nothing…..

  • j October 16, 2013

    i got mine yesterday for 348.99 was a nice surprise

  • Jenifer October 17, 2013

    7$ / 300+ r what people r getting we would all like a refund of 300+ !!!!!!

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