First Banks Class Action Dismissed

A lawsuit was filed and was seeking nationwide class action certification against the bank for charging fees for cashing checks drawn on the bank. The lawsuit claimed by charging a fee, the bank wrongfully dishonored the check. The lawsuit noted that a check is a contract between First Banks and the payer of the check; the holder of the check is a third party beneficiary and should not have to pay a fee to cash such a check at the bank where it was issued. Madison County Circuit Judge Don Weber reluctantly dismissed the check cashing fee class action complaint because it is not against the law to charge a fee which the third party agrees to when cashing the check. (Nov-16-06) [MADISON COUNTY RECORD: FIRST BANKS DISMISSED]

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