Bank Overdraft Fee Class Action Lawsuits: Lawyers Say Banks Deceived Customers
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UPDATED: Aug 5, 2019
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Numerous bank overdraft class action lawsuits have been filed across the nation alleging that banks not only charged customers outrageous fees without their consent, but that they created internal processes to increase the likelihood that accounts would be overdrawn. Bank overdraft fee lawyers say customers have been deceived.
Bank Overdraft Fee Class Action Lawsuit Filed Against Sovereign Bank
Bank overdraft fee lawyers recently filed a bank overdraft fee class action lawsuit against Sovereign Bank, now owned by Banco Santander, for failing to obtain customers’ consent when charging overdraft fees, charging unreasonable overdraft fees and for unfairly applying large transactions before smaller ones in order to charge additional overdraft fees. According to bank overdraft fee class action lawyers, Sovereign Bank is just like all of the other banks that have deceived customers and collected millions and millions of dollars in unauthorized bank overdraft fees. However, they say that the tables may be turning as Wells Fargo was recently ordered to reimburse its customers $230 million in bank overdraft fees.
Can You Participate In A Bank Overdraft Fee Class Action Lawsuit?
Absolutely. Typically, a couple hundred dollars isn’t enough to bring a single bank overdraft fee lawsuit against the bank, but the way that people can get reimbursed for these types of fees, this type of deception, is by retaining a law firm that specializes in class action work who can file a class action on behalf of themselves and any other customers of their bank, who were charged these outrageous overdraft fees.
A bank overdraft fee class action lawsuit would seek reimbursement for any overdraft fees that were improperly charged along with the reordering of charges. In addition, any interest, penalties, punitive damages and attorneys’ fees would also all be included in the lawsuit. If you were a class representative of the suit and spent time pursuing the claim on behalf of other class members, typically there are other monies involved that reward class representatives for the time and expense that you put forward.
Should someone contact an attorney if they’re only owed a small amount of money?
Again, the answer is absolutely. The time commitment isn’t that great in pursuing these types of cases. It would typically only involve gathering bank statements and bank agreements and sending them to a lawyer who would file suit on your behalf. It might potentially amount to spending a couple hours at some point at a deposition, but it may not. Bank overdraft fee attorneys say it’s really about doing what’s right. When you’re one of many people who have been wronged, there’s an injustice to letting these large corporations get away with it.