Tentative $12M Settlement Reached in National City Bank Overdraft Class Action

This is a settlement for the lawsuit.

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Washington, DC: Judge John D. Bates, of the United States District Court for the District of Columbia ("Court"), has preliminarily approved a class action settlement in a lawsuit brought against National City Bank ("National City") on behalf of certain National City bank account holders. National City was merged into PNC Bank, N.A., on November 6, 2009, and this settlement is limited to those people who were customers of National City before the merger. Consistent with the Court's orders, the settling parties have initiated notice to the settlement class members today.

The Settlement Class includes all persons who hold or ever held a National City Account who at any time from July 1, 2004, through and including August 15, 2010, incurred at least one Overdraft Fee associated with at least one National City Debit Card Transaction that was not previously reversed, refunded or returned.

The settlement will establish a Settlement Fund of $12 million. Notices will be mailed directly to Settlement Class Members, appear on PNC's website, (on the online accounts of former National City customers), and are scheduled to appear in selected local newspapers leading up to a hearing on July 15, 2011, when the Court will consider whether to grant final approval to the settlement.

Those affected by this settlement can submit a claim for benefits or they can ask to be excluded from, or object to, the settlement and its terms. The deadline for exclusions and objections is June 27, 2011. The claim deadline is August 26, 2011.

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