TopClassActions  |  October 3, 2013

Category: Legal News

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Citizens Bank Pays $137.5 Million Settlement; Denies Any Wrongdoing

 

By Dominic Rivera


Citizen's Bank Overdraft Lawsuit
How would you like to find some extra cash in your bank? This is just what happened to some Citizens Bank customers as part of the $137.5 million settlement from a checking account overdraft class action lawsuit.

According to reports, customers eligible for the settlement started receiving their money through their accounts last September 19 while those who have closed their accounts but are eligible for settlement will be receiving checks.


The settlement stemmed from the lawsuit which claimed that Citizens Bank reordered debit card transactions from highest to lowest dollar amount in order to rack up overdraft charges. We have also covered and reported on this lawsuit in the past.

Despite the settlement, the bank did not admit to any wrongdoing. “The settlement does not mean that any law was broken or that Citizens did anything wrong. Citizens denies all legal claims in this case,” the bank said.

Overdraft fees is a common contention of class action lawsuits given the huge amount of money involved. In 2007, banks collected more than $17 billion in overdraft fees. In 2009, it rose to $37.1 billion. The case is In re: Checking Account Overdraft Litigation, Case No. 1:09-md-02036-JLK, in the U.S. District Court for the Southern District of Florida.

 

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10 thoughts onCitizens Bank Pays $137.5 Million Settlement; Denies Any Wrongdoing

  1. alfred kabura says:

    they charged me $35 dollars overdraft fee plenty of times if you spent $ 1.00 over the available balance of your money and now they sent me $ 6.33 and how much will i get if drove to go cash it nothing.but i think there is more money you can get if hire an attorney just thoughts.

  2. Jorge L. Martinez Sr says:

    What about credit union like navegant cu in Rhode Island
    They take so much overdraft front my wife and me thar we have to close the account and no body answer my cuestión
    That is my cuestión Thank you

  3. sheila says:

    i wish to file a claim and be commensated

  4. Diana Stokes says:

    I received pennies, instead of the $2,500 I was supposed to receive, so the banks still won,were’s the justice in that crap? Diana

  5. Francisco Garcia says:

    How do I file a claim?

  6. Rose says:

    I don’t know why I didn’t know about this. I have been charged overdraft fees more than once by this crooked bank. I am in the process of checking out other banks to do business with.

  7. Diana says:

    Are you kidding I received a check in the amount of $6.89 is that a joke after everything they did to me..Humiliated me, messed up my life for a month after what they did…trying to fix there stupidity, I hate CITIZENS BANK – I tell everyone not to bank with them and thats all I get a meer $6.89…THANKS FOR NOTHING…

  8. Glenda Bouvay says:

    Something of this same nature happened to me at my credit union. I was charged an overdraft in the excess of $500. Do I have any recourse?

  9. michael a blake says:

    i bank with them did they do that to me

    1. chris scannell says:

      I was wondering if I qualified for this settlement. I did have over drafts. banked with them for six years. acc 4533138303 closed .

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.