Santa Clara, CA: A $975,000 settlement has been reached in an improper overdraft fees class action lawsuit pending against National Penn Bank.
The lawsuit was brought in 2012 by Jennifer Collier, who claimed that rather than charging overdraft fees on her actual account balance, the bank incorrectly charged overdraft fees based on the ledger balance in her account or the amount available at the beginning of the day.
If approved, the settlement will provide compensation to a class of National Penn Bank customers who were incorrectly charged overdraft fees. Collier, as lead plaintiff, would receive a $2,500 award for service.
National Penn was purchased by BB&T Corp., nearly two years ago. The proposed settlement comes after several rounds of briefing and appeals to both the state’s Superior Court and its Supreme Court.
The case is Jennifer Collier v. National Penn Bank et al., case number 120601036, before the Court of Common Pleas of Philadelphia County, Pennsylvania.
Nat penn was taking 450 a wk from me in fees backing stuff out so they could charge me more it got to the point my weekly checks did not cover the overdrafts. I lost about 100,000 over 3years
Posted by debra a seigle on
Without Looking Exactly I had over 50k taken from my accounts at National Penn they described it as NSF, Overdraft, Cycle Service, Return Fee and still paying the checks ? When I asked to have the fees returned the branch manager said she could but she would not (great customer service)
Posted by John catchmark Jr. on
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