$110M Settlement Approved in Chase Bank Overdraft Fees Class Action Lawsuit

This is a settlement for the Excessive Bank Overdraft Fees lawsuit.

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New York, NY: A $110 million settlement has received final court approval, ending an overdraft fees class action lawsuit against Chase Bank.

The settlement is the latest settlement to be reached in the massive class action lawsuit involving over 30 banks who are alleged to have manipulated customers transactions in such a way as to maximize overdraft fees.

The allegations also state that rather than declining transactions on an account that has insufficient funds to cover a purchase, Chase Bank authorized the transactions and then processed them in highest to lowest dollar order, which effectively increased the number of overdraft fees charged.

As part of the settlement agreement, Chase will, for a period of at least two years, cease charging overdraft fees on individual debit card transactions of $5.00 or less.

Class members include anyone who (A) held a Chase, Bank One, or Bank of New York consumer deposit account accessible with a Chase debit card anytime between January 1, 2003 and March 29, 2010; and (B) were charged one or more overdraft fees as a result of Chase' practice of posting debit card transactions from highest to lower dollar amount.

For complete information on class and settlement eligibility, claim forms and filing dates visit ChaseOverdraftSettlement.com.

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Reader Comments

Posted by
Stephen nielsen
I have same problem with over draft fess

Posted by
Chase has taken over $4,000 in overdraft fees in 5 month time frame. I want to sue them. Because of their stupidity and some bs they make up, ive lost my health insurance and my credit has depleted. Im a 35 year old with terminal illnesses and due to chase bank im left to just go without.

Posted by
mad consumer
Chase still reorders transactions. They just did it to me last week. Guess Chase just laughed at this court ruling.

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