Class Action: Overdraft Fees Assessed to Maximize Revenue

An overdraft fee class action lawsuit may be an option for individuals who were charged overdraft fees for “non-recurring” debit card transactions that were misclassified as “recurring” debit card transactions. Bank account holders who were wrongfully charged an overdraft fee on an everyday “non-recurring” debit card transaction may be able to pursue a claim with the help of a consumer fraud attorney.

For more information, contact Attorney Group today. Our consultations are free, confidential and without any obligation on your part. We can help answer your questions, and if you choose to pursue a claim we can connect you with an affiliated consumer protection attorney who can assist you throughout the legal process.

The time you have to pursue a claim is limited. Contact us for more information.Get Help Now.

Account Holders Allegedly Charged Fees for Misclassified Debit Card Transactions

Banking institutions, including Bank of America, may promise their account holders that they will not authorize overdrafts for everyday “non-recurring” debit card and ATM transactions. However, according to a class action lawsuit filed in November 2016, Bank of America “has systematically authorized overdrafts on everyday non-recurring debit card transactions” by misclassifying those transactions as “recurring” in order to maximize its overdraft fee revenue. Bank of America charges a fee of $35 for recurring debit card transactions. In addition to Bank of America, other banking institutions may have engaged in this type of deceptive practice.

Everyday non-recurring debit card transactions typically include purchases made with a debit card, debit card number or ATM card on a one-time or day-to-day basis.  Non-recurring transactions are often used for purchases of groceries, gas, coffee or other miscellaneous charges. Recurring debit card transactions are usually transactions that an account holder sets up to occur automatically, such as online automatic bill payments and ACH transactions. Account holders often give merchants their debit card number to use for their mortgage, car, utility bills or other frequently repeated payments.

How an Overdraft Fee Class Action Lawsuit Can Help

When a company engages in false or misleading advertising of its products, or otherwise commits deceptive trade practices, that company could be liable for any damage that may result.

The actions of the defendants could constitute fraud and misrepresentation, breach of warranty, breach of contract as well as violations of various state and local consumer protection laws, including California and New York state laws.

Compensation may be sought for:

  • Costs incurred by owners, including loss of value, attributable to any wrongful conduct
  • Refund of the purchase price paid for affected services
  • Damages related to violations of consumer protection acts
  • Attorneys’ fees

Bank account holders at varies banking institutions may be eligible to pursue damages through an overdraft fee lawsuit and are encouraged to seek the advice of an experienced consumer fraud attorney to learn more about their rights and remedies.

The Time You Have to Pursue a Claim is Limited. Contact Us Today.

For more information, contact Attorney Group. You can fill out the form on this page or contact us by phone or email.

After you contact us, an attorney will follow up to answer questions that you might have. There is no cost or obligation to speak with us, and any information you provide will be kept confidential.

Please note that the law limits the time you have to pursue a claim or file a lawsuit for an injury. If you think you have a case, you should not delay taking action.